The cost for purchasing and installation of a molding machine is $90,000. It is in the seven-year GDS property class and is expected to be kept in service for eight years. The salvage value of the machine is $10,000 at the end of year 8. The net annual value added (i. e., revenues less expenses) that can be attributed to this machine is constant over eight years and amounts to $15,000. What is the tax at the end of year three if the tax rate is 25%