A project of six years will require $512,000 for fixed assets and $38,000 for net working capital (NWC) initially at year 0. The equipment falls in the five-year MACRS class with annual percentages of 20%, 32%, 19.2 %, 11.52 %, 11.52 %, and 5.76% for Years 1 to 6. At the end of the project, the fixed assets will be worthless, so no salvage value. There will be no investment in NWC in the entire project life, and all of its initial investment will be recovered at the end of the project. The project is expected to generate annual sales of $965,000 and costs of $508,000 through the 6 years. The tax rate is 21 percent and the required rate of return is 14.7 percent. a) Determine the cash flows from year 0 to year 6. (6 pts) b) What is the net present value? Will you accept the project based on the net present value? (8 pts) c) What is the IRR? Will you accept the project based on the IRR? (8 pts) d) What would be the after tax salvage value if the fixed asset had a market value of $9,500 at the end of the project life? (8 pts)