A company is considering a project to enter a new line of business. The new business will require the company to purchase a new machine that will cost $930,000. These costs will be depreciated on a straight-line basis to zero over three years. At the end of three years, the company will get out of the business and will sell the machine at a market value of $70,000. Working capital of $50,000 will be required from the outset, which will be fully recovered at the end of year 3 . The project is expected to generate $1.6 million in sales each year. The operating expenses, excluding depreciation, are expected to be $1.15 million per year. The company tax rate is 30%, and the project's required rate of return is 12%. a. Fill in the table below and determine the net cash flow for each year of the project. [7 marks] Note: insert a multiple-column table to show your work. b. What is the net present value of the project? Show your working. [1 mark]