Consider the following project of Hand Clapper, Inc. The company is considering a four- year project to manufacture clap-command garage door openers. This project requires an initial investment of $14.4 million that will be depreciated straight-line to zero over the project's life. An initial investment in net working capital of $600,000 is required to support spare parts inventory; this cost is fully recoverable whenever the project ends. The company believes it can generate $11.9 million in pretax revenues with $4.6 million in total pretax operating costs. The tax rate is 23 percent and the discount rate is 9 percent. The market value of the equipment over the life of the project is as follows: Year 1 WN Market Value (millions) $ 11.5 9.4 5.0 1.3 4 a. Assuming the company operates this project for four years, what is the NPV? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.) b-1. Compute the project NPV assuming the project is abandoned after one year. (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.) b-2. Compute the project NPV assuming the project is abandoned after two years. (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.) b-3. Compute the project NPV assuming the project is abandoned after three years. (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89.) a. NPV if operated for four years b-1. NPV if abandoned after one year b-2. NPV if abandoned after two years b-3. NPV if abandoned after three years