Kurt, married filing jointly, owns a manufacturing business and has the opportunity to invest in a transaction that will generate

\($200,000\) before-tax cash flow and taxable income in Year 0.

a. Calculate the after-tax cash flow using the tax table for 2023 for married filing jointly.

b. How does your answer change if Kurt could restructure the transaction that results in before-tax cash flow and taxable income of \($50,000\) in Year 0, \($100,000\) in Year 1, and \($50,000\) in Year 2? Assume a discount factor of 4% and the same tax rate table as given for 2023.