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2. A delivery van costs $40,000, has a life of ten years, and has running costs of $1,400 a year, paid at the end of each year. (2 marks) The real discount rate is 3%, given as an effective annual rate. Assume that all cash flows are real. The inflation rate is 2% given as an effective annual rate. Find the Equivalent Annual Cost (EAC) of the delivery van. Answer to 2 decimal places, ignore the negative sign. Answer: 3. Sandy Limited purchased a machine for $8000, to be depreciated using the straight-line method over 4 years. In Year 3, the machine was sold for $1,500. Assume a tax rate of 30%. Calculate the after-tax salvage cash flow of the machine. (2 marks) Answer: $ 4. Ramsay Ltd has projected sales of $340 million for the second year of a proposed expansion project. Operating costs normally run at 75% of sales. The depreciation expense will be $20 million, and the tax rate is 30%. What is the net cashflow? (2 marks) Round answer to the nearest $million. Answer: $ million