A firm is considering a new seven-year expansion project with an initial fixed asset investment of $4 million. The fixed asset will be depreciated straight-line to zero over its seven-year tax life, after which time it will be worthless. The project is estimated to generate $2,000,000 in annual sales (each year), with costs of $1,000,000 (each year). The tax rate is 21 percent and the required return is 15 percent. What is the net present value of this project? Hint: First step: You need to calculate OCF. Which formula can you use? Then, calculate the NPV O-311,207.04 0-129,908.61 O 311,207.04 0214018.05 71,841.16 0-71,841.16 129,908.61 0-214.018.05