I need this solved step by by step please by hand. Please no Excel. Thank You!

6) (28 points) A company is considering a replacement for an aging machine that has been fully depreciated for tax purposes. The new machine will have an initial cost of $400,000 and is expected to generate an income of $125,000 per year. Its estimated salvage value at the end of its useful life of 4 years will be $60,000. The new machine is a MACRS-GDS 3-year property for calculating depreciation deductions. The effective tax rate is 35%. a) (20 points) For this new machine, determine the after-tax cash flow for each year of operation. (Round off values to the nearest dollar) BTCF MACRS-GDS Taxable Tax ATCE Deduction Income 0 1 2 3 4 b) (8 points) If the after-tax MARR is 10% per year compounded annually, compute the PW of the after-ta cash flows. Based on this PW, would you recommend the purchase of this new machine