Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.410.000. The fixed asset will be depreciated straight-line to zero over its three-year tax life. The project is estimated to generate $2710.000 in annual sales, with costs of $1.730,000. The project requires an initial investment in net working capital of $152.000, and the fixed asset will have a market value of $187,000 at the end of the project. Assume that the tax rate is 23 percent and the required retum on the project is 9 percent. a. What are the net cash flows of the project each year? Note: A negative antwer should be indicated by a minus sign. Do not round Intermedlote calculations and round your answers to the nearest whole number, 6.9.32. b. What is the NPV of the project? Note: Do not round Intemedlate calculations and round your anewer to 2 decimal places, e.9., 3216