Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.18 million. The fixed asset falls into the three-year MACRS class. The project is estimated to generate $1.645 million in annual sales, with costs of $610,000. The tax rate is 21 percent and the required return is 12 percent. Suppose 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. What is the projects Year 0 net cash flow? Year 1? Year 2? Year 3? What is the NPV?

Input area:
Asset investment	$2,180,000
Estimated annual sales	$1,645,000
Costs	$610,000
Tax rate	21%
Required return	12%
Initial investment in NWC	$250,000
Fixed asset value at end	$180,000
MACRS percentages
Year 1	0.3333
Year 2	0.4445
Year 3	0.1481