Jacks Investments would like to replace their existing computer system with a new, more modern system at a cost of R95 000. Additional installation costs for the new system is R15 000. The existing system was purchased two years ago for R70 000. If the existing system is sold it will yield an after-tax return of R32 000. Net working capital will decrease by R6 000 with the replacement of their existing computer system. The beginning of project cash flows for the replacement is:

R72 000

R57 000

R46 000

R206 000

R110 000