Your company is planning to purchase a bulldozer at a capital cost of $390,000 after which it will hire an experienced operator and undertake short term contracts for cash compensation. Aside from having to pay the operator, operating costs include mainly fuel and repairs which are paid for in cash when incurred. The bulldozer has a three-year useful life and will have no salvage value at the end of its useful life, so it needs to be fully depreciated over this period. Although the addition of the bulldozer will not affect head office costs, it is the company's policy to allocate head office costs to all revenue generating pieces of equipment. The projected income statement for this project is presented below. (Assume all cash flows occur at the end of the year)"