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Revenues generated by a new fad product are forecast as follows: Expenses are expected to be 50% of revenues, and working capital required in each year is expected to be 20% of revenues in the following year. The product requires an immedlate investment of $48,000 in plant and equipment. Required: a. What is the Initial investment in the product? Remember working capital. b. If the plant and equipment are depreclated over 4 years to a salvage value of zero using stralght-line depreclation. and the firm's tax rate is 40%, what are the project cash flows in each year? c. If the opportunity cost of capital is 15%, what is project NPV? d. What is project IRR? Complete this question by entering your answers in the tabs below. What is the initial investment in the product? Remember working capital