Your corporation is considering replacing older equipment. The old machine is fully depreciated and cost $54,876.00 seven years ago. The old equipment currently has no market value. The new equipment cost $61,880.00 . The new equipment will be depreciated to zero using straight-line depreciation for the four-year life of the project. At the end of the project the equipment is expected to have a salvage value of $14,130.00 . The new equipment is expected to save the firm $20,069.00 annually by increasing efficiency and cost savings. The corporation has tax rate of 31.67% and a required return on capital of 12.84% . Please enter your answers with two decimal places, as these are dollar amounts.

1. What is the total initial cash outflow? (Show as a negative number): $
2. What are the estimated annual operating cash flows? $
3. What is the terminal cash flow? $
4. What is the NP