ABC, Inc. is considering a new project. The financial projections are as follows: Sales Total Costs Depreciation Capital Expenditures Net Working Capital (Requirements/Levels) Year 0 80,000 4000 Year 1 48,000 14,000 20,000 5000 Year 2 48,000 14,000 20,000 2000 Year 3 48,000 14,000 20,000 The equipment will be sold at the end of Year 3 for 22,000. The relevant tax rate is 35%. a) Calculate the free cash flows for the project. 0