Refer to your cash flow estimation spreadsheet for this question. At the end of Year 4, what is the book value of the capital expenditures required for Project A?

Cash Flow Estimation and Analysis for Expansion Project A 2 4 Investment Outlays at Time = 0 CAPEX Building and Equipment ANOWC = Additional net operating working -$212,000 capital needed 3,500 Operating Cash Flows Over the Project's Life (Time - 1-4) Unit sales Sales price Variable cost per unit Sales revenues Units Price Variable costs -Units Cost/unit Fixed operating costs except depr'n 4,700 $65.00$65.00$65.00 $65.00 $1.018 $1.078$1.046 $1.046 $162,500 $204,750 $253,500 $305,500 73,12592,138 114,075137,475 35,00035,000 14,840 $178,085 $222,538 $180,875 $187,315 $15,585-$17,788$72,625 $118,185 47,274 -$9,351-$10,673 $43,575 $70,911 14,840 $60,609 $84,728 $75,375$85,751 2,500 3,150 3,900 10 12 13 14 15 35,00035,000 69,96095,400 10Depreciation: Accelerated from table below 31,800 Total operating costs 16 12EBIT (or Operating income) 18 14 | EBIT (1-T) = After-tax project operating income 2016 EBIT (1 - T) Depreciation 13Taxes on operating income 40% -6,234 7,115 29,050 17 19 15 Add back depreciation 69,96095,400 31,800 21 17 Terminal Cash Flows at Time = 4 2218 Salvage value (taxed as ordinary income) $25,000 Tax on salvage value 0.4 x (SV - BV of equipment at t-4) After-tax salvage value $10,000 $15,000 24 20 NOWC = Recovery of net operating working capital 21 $3,500 Project free cash flows = EBIT(1-T) DEP -CAPEX-NOWC 26 $215,500 $60,609 $84,728 $75,375$104,251 23 Text Unit sales