Memory Florist is considering replacing an old refrigeration unit with a larger unit to store flowers. Because the new refrigeration unit has a larger capacity, Memory estimates that it can sell an additional $9,000 of flowers a year. (The cost of the flowers is $4,500). In addition, the new unit is energy efficient and should save $2,500 in electricity each year but it will cost an extra $3,000 per year for maintenance. The new refrigeration unit costs $16,000 and has an expected life of 4 years. The old unit is fully depreciated and can be sold for an amount equal to disposal cost. At the end of 4 years, the new unit has an expected residual value of $2,000. Memory's required rate of return is 10% and it is subject to a tax rate of 25%. Determine the present value of the 4th year's after-tax cash flows if the refrigeration unit is replaced. To simplify analysis, assume that all cash inflows and outflows (other than the cash outflow of $16,000 for purchasing the new refrigeration unit) occur at the end of a year