Better Moosetraps has developed a new trap. It can go into production for an initial investment in equipment of $6 million. The equipment will be according to 5-year MACRS over 6 years to a value of zero, but in fact it can be sold after 6 years for $620,000. The firm allocates $250,000 working capital to the project, to be recovered at the end. The firm estimates production costs equal to $1.60 per trap and believes that the traps can be sold for $4 each. Sales forecasts are given in the following table. The project will come to an end in 6 years, when the trap becomes technologically obsolete. The firms tax bracket is 40%, and the required rate of return on the project is 12%. What is project NPV?

Year:	0	1	2	3	4	5	6	Thereafter
Sales (millions of traps)	0	0.6	0.7	1.0	1.0	0.7	0.3	0

Fill in the Table in $millions:

Year	0	1	2	3	4	5	6
Revenues
Expense
MACRS rate
Depreciation
Pretax profit
Tax
After-tax profit
Oper Cash Flow excl WC
Capital investment
Cash flow from WC
Cash flow from salvage
Total cash flow
PV of cash flow at 12%
Net present value