Esfandairi Enterprises is considering a new three$-$year expansion project that requires an initial fixed asset investment of

$$2\mathrm{.}27$ million. The fixed asset qualifies for $100$ percent bonus depreciation in the first year. The project is estimated to

generate $$1,800,000$ in annual sales, with costs of $$692,000.$ The project requires an initial investment in net working capital

of $$430,000,$ and the fixed asset will have a market value of $$450,000$ at the end of the project.

a$.$ If the tax rate is $23$ percent, what is the project's Year $0$ net cash flow? Year $1?$ Year $2?$ Year $3?$

Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your

answers to two decimal places, e$.$g$.,32\mathrm{.}16.$

b$.$ If the required return is $10$ percent, what is the project's NPV$?$

Note: Do not round intermediate calculations and round your answer to two decimal places, e$.$g$.,32\mathrm{.}16.$