Esfandairi Enterprises is considering a new three$-$year expansion project that requires an initial fixed asset investment of $$2\mathrm{.}18$ million.

The fixed asset will be depreciated straight$-$line to zero over its three$-$year tax life, after which time it will be worthless. The project is

estimated to generate $$1\mathrm{.}645$ million in annual sales, with costs of $$610,000.$ The project requires an initial investment in net working

capital of $$250,000,$ and the fixed asset will have a market value of $$180,000$ at the end of the project. Assume that the tax rate is $21$

percent and the required return on the project is $12$ percent.

a$.$ What are the net cash flows of the project for each year?

Note: Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to the nearest

whole number, e$.$g$.,1,234,567.$

b$.$ What is the NPV of the project?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest

whole number, e$.$g$.,1,234,567.$