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. The tax rate is $21$ percent.

a$.$ What is the project's Year $0$ net cash flow? Year $1?$ Year $2?$ Year $3?($A negative answer

should be indicated by a minus sign. Do not round intermediate calculations and

enter your answers in dollars, not millions of dollars, e$.$g$.,1,234,567.)$

b$.$ If the required return is $12$ percent, what is the project's NPV$?($Do not round

intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$