$3.$ You are thinking of opening an internet coffee shop and you forecast the following cash flows. The cost of the establishment is $$2,800,000$ for the building and $$900,000$ for equipment $($tax life of $7$ years$)$ and both are placed it into service on January $1,$ year $0.$ The business will earn $$2,950,000$ in revenue the first year and have cash expenses of $84\%$ of revenues during its twenty years of operation. After the first year, sales are expected to grow at $6\mathrm{.}5\%$ per year. You will need to calculate depreciation on the building and the equipment using the methods discussed in the chapter. At the end of $20$ years. The building and equipment will be sold jointly for an after$-$tax cash disposition value of $$800,000.$ No other cash flows will occur during the $20$ years of operation. Using a $26$ percent tax rate, and an $8\mathrm{.}25$ percent cost of money, calculate the following:

The first year$$s total cash flow$\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

The second year$$s total cash flow $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$

The net present value of the project $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_$