Please answer in excel format.

P11-19 Operating cash flows Strong Tool Partners has been considering purchasing a new lathe to replace a fully depreciated lathe that would otherwise last 5 more years. The newlithe is expected to have a 5-year life and depreciation charges of $2,000 in year 1:53,200 in year 2; $1,900 in year 3; $1,200 in both year 4 and year 5; and $500 in year 6. The firm estimates the revenues and expenses (excluding depreciation and interest) for the new and the old lathes to be as shown in the table below. The firm is subject to a 40% tax rate. New lathe Old lathe Year 1 2 3 Revenue $40,000 41,000 42,000 43,000 44,000 Expenses (excluding depreciation and interest) $30,000 30,000 30,000 30,000 30,000 Revenue $35,000 35,000 35.000 35,000 35,000 Expenses (excluding depreciation and interest) $25,000 25,000 25,000 25,000 25,000 4 a. Calculate the operating cash flows associated with each lathe. (Note: Be sure to consider the depreciation in year 6.) b. Calculate the operating cash flows resulting from the proposed lathe replacement. c. Depict on a timeline the operating cash flows calculated in part b. P11-20 Operating cash inflows Scenic Touring