a. A project requires a $2 million investment in net working capital (NWC) today, and will be fully recovered in 5 years.What is the PV of the NWC cash flows if r = 0.12 per annum?

b. A firm depreciated its assets with regard to an investment to $0.00 book value by the end of the project's 10 year life.However, the firm expects to sale the assets for $500,000 in 10 years.What is the PV of the after-tax salvage value if r = 10% per year, and the firm's tax rate is 32%?

c. A firm depreciated its assets with regard to an investment to $0.00 book value by the end of the project's 15 year life.However, the firm expects to sale the assets to have a scrap market value of $1,200,000 in 15 years.What is the PV of the after-tax salvage value if r = 14% per year, and the firm's tax rate is 28%?

d. A project requires a $2 million investment in net working capital (NWC) today, and will be fully recovered in 5 years.What is the PV of the NWC cash flows if r = 0.12 per annum?