ChatPGT answer is wrong: I will put thumbs down multiple times.

Your business has been doing well, earning $1.08 million, and it's thinking of introducing a new product. The new product's design has already cost $512,000 in total. According to the company, it will sell 792,000 units annually for $3.02 each, with variable non-labor costs coming in at $1.04 a unit. After year three, production will cease. $1.09 million worth of new equipment will be needed. The 7-year MACRS timetable will be used to depreciate the equipment to zero. At the conclusion of year three, you want to sell the machinery for book value. You currently have $300,000 in operating capital. The working capital for the new product will need to rise to a level of $380,000 immediately, then to $409,000 in year 1, then to $351,000 in year 2, and eventually to $300,000 in year 3. You pay 21% in taxes. The project's discount rate is 9.6%. Calculate the NPV of this project's capital budgeting study. first year? second year? the third year?