Corpus Christi Partners has evaluated a major expansion that has a postitive NPV of 4,500,000. Joe Whitman is proposing an "add-on" to the expansion. He believes investing an additional 500,000 in net working capital would increase annual revenues by 140,000 per year and increase the annual cash operating expenses by 40,000 per year over the 10-year life of the project. The investment in net working capital would not affect depreciation schedules and the firm gets it back at the end of 10 years. The firm has a 30% tax rate and the project has a 10% cost of capital. a. Assuming Joe's estimates are correct, what are the outlay, annual net operating cash flow and the after tax salvage value for the "add-on" project? b. What is the incremental NPV of the "add-on" investment in net working capital? c. What is the combined NPV of the expansion and the "add-on" project?