Projects A and B have the same level of risk and the rerquired return for each project is 10%. The initial investment and expected cash flows are given below: Year 0 1 2 3 4 Project -10,000||4,000 3,000 3,000 4,000 A Project -10,000 1,000 1,300 2,800 10,000 B

considering the purchase of a new machine for 600,000. It will be fully depreciated at the time of purchase, used for three years, and then sold for an estimated market value of $200,000. Purchase of the new machine will cause an increase in net operating working capital by $100,000. Operating costs are expected to decrease by $300,000 per year. The tax rate is 25% and the cost of capital is 20%..

What is the after-tax cash flow from the sale of the machine at the end of the third year