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A firm has projected the following financials for a possible project: YEAR 0 1 N 3 4 5 Sales 138,552.00 138,552.00 138,552.00 138,552.00 138,552.00 Cost

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A firm has projected the following financials for a possible project: YEAR 0 1 N 3 4 5 Sales 138,552.00 138,552.00 138,552.00 138,552.00 138,552.00 Cost of Goods 61,747.00 61,747.00 61,747.00 61,747.00 61,747.00 S&A 30,000.00 30,000.00 30,000.00 30,000.00 30,000.00 Depreciation 20,625.00 20,625.00 20,625.00 20,625.00 20,625.00 Investment in NWC 1,209.00 590.00 590.00 590.00 590.00 590.00 Investment in Gross PPE 103,125.00 The firm has a capital structure of 38.00% debt and 62.00% equity. The cost of debt is 8.00%, while the cost of equity is estimated at 14.00%. The tax rate facing the firm is 39.00%. (Assume that you can't recover the final NWC position in year 5. i.e. only consider the change in NWC for each year) What is the cash flow for year 1

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