1) (20 points) You have been asked to evaluate the following new product introduction. This product fits well into the current portfolio products, but the company requires a 10% return. Calculate the after-tax Net Present Value (NPV) of this project. . Project life is 3 years Sales Volume 100 units in year 1 Sales will grow at 10%/year Sales Price $250/unit Cost of raw materials $100/unit Cost of direct labor $20/unit Operation and Maintenance costs $2000/year Taxes are 30% $40,000 Initial cost with depletion using MACRS 5 year recovery period Machinery is sold at the end of the project in year 3 for $10,000 It is necessary to invest in working capital of $500