Elmdale Enterprises is deciding whether to expand its production facilities. Although long$-$term cash flows are difficult to estimate, management has projected the following cash flows for the first two years $($in millions of dollars$)$:

a$.$ What are the incremental earnings for this project for years $1$ and $2?($Note: Assume any incremental cost of goods sold is included as part of operating expenses.$)$

b$.$ What are the free cash flows for this project for years $1$ and $2?$

Data table

$($Click on the following icon in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[,$Year $1,$Year $2],[$Revenues$,122\mathrm{.}8,158\mathrm{.}6],[$Operating Expenses $($other than depreciation$),49\mathrm{.}9,57\mathrm{.}7],[$Depreciation$,28\mathrm{.}6,44\mathrm{.}7],[$Increase in Net Working Capital,$3\mathrm{.}5,7\mathrm{.}4],[$Capital Expenditures,$33\mathrm{.}5,44\mathrm{.}9],[$Marginal Corporate Tax Rate,$21\%,21\%]]$