Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.18 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 $1.645 million in annual sales, with costs of $610,000, the tax rate is 21%.

NPV and MACRS: suppose the fixed asset actually falls into the three-year MACRS class. All the other facts are the same. What is the projects Year 1 net cash flow now? Year 2? Year 3? What is the new NPV?

Show 4 years of P&Ls, CFFAs, Tax on Gain, and NPV

Plz use excel form, thx!