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A- NPV. A project has an initial cost of $45,000, expected net cash inflows of $14,000 per year for 6 years, and a cost of capital of 14%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent.

B-Net Salvage Value. Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $9.6 million, of which 65% has been depreciated. The used equipment can be sold today for $4.8 million, and its tax rate is 25%. What is the equipment's after-tax net salvage value? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000. Round your answer to the nearest dollar.

C-Project Cash Flow. The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service:

Projected sales	$20 million
Operating costs (not including depreciation)	$10 million
Depreciation	$6 million
Interest expense	$3 million

The company faces a 25% tax rate. What is the project's operating cash flow for the first year (t = 1)? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Round your answer to the nearest dollar.