Boca Corp is considering acquiring a form and you have been asked to develop a stock valuation for the firm. The estimated growth rate is 19% for the first 3 years after which the firm slows down to a steady state growth rate of 7.25%. Year 1 is revenue is $ 2,000,000.Net working capital is estimated. To be 22% of sales per year. The firm also builds up initial inventory of 15% of the first years anticipated cogs before beginning the project. Dogs is 53% of annual sales for each year and sg&a is 11% of revenues

Per year. Depreciation is $250,000 per year. In addition the firm invests in fixed assets every year to the amount of $195,000. The firms tax rate 35% and the firms wax

Is 14.4%. What is NOPAT for each year?