miller corporation is considering replacing a machine. the replacement will reduce operating expenses by $20,000 per year for each of the five years the new machine is expected to last. although the old machine has zero book value, it can be used for five more years. the depreciable value of the new machine is $52,000. the firm will depreciate the machine using a straight line depreciation over five years. it has a 21% tax rate. calculate periodic cash flow in year 2. hint: first, calculate net earnings after tax, then calculate operating cash flows.