1. a. Talbot Industries is considering launching a new product. The necessary manufacturing equipment would be purchased for $18 million. In addition, the production and sales of the new product will require an initial $2 million in new operating working capital. The company's tax rate is 40%. Briefly describe the change in net operating working capital. (Hint: Textbook page 455) b. What is the initial investment outlay? c. The company spent and expensed $20,000 on research related to the new product last year. Would this information change your answer on the initial investment outlay? Why? d. The company plans to use an existing building that it owns to house the production of new product. The building could be sold for $1 million after taxes and real estate commissions. How would this information affect your answer on initial investment outlay? Why