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This question is asking for the effect of taxes on cash flow in Year 2. Operating cash flow before tax is $250,000 ($700,000 revenue ? $450,000 cash expenses). Tax at 40% of that is $(100,000). This is a cash outflow. Depreciation in Year 2 is $1,000,000 × .32 = $320,000. The depreciation tax shield is $320,000 × .40 = $128,000. This is a cash inflow. The net effect of taxes is $(100,000) + $128,000 = a 28,500 tax benefit.
This is the tax on the operating cash flow as a cash outflow and the depreciation tax shield, also as a cash outflow. The depreciation tax shield is a cash inflow because the depreciation expense reduces taxable income and thus reduces taxes due.
This is the tax on the operating cash flow. However, the depreciation tax shield is another effect of taxes on cash flow.
The taxes do have an effect on net cash flow.