Esfandiari Enterprises is considering a new three$-$year expansion project that requires an initial fixed asset investment of $$2\mathrm{.}79$ 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 $$2,110,000$ in annual sales, with costs of $$805,000.$ The project requires an initial investment in net working

capital of $$330,000$ and the fixed asset will have a market value of $$225,000$ at the end of the project.

a$.$ If the tax rate is $23$ percent, what is the project's Year $0$ net cash flow? Year $1?$ Year $2?$ Year $3?$

Note: 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$?$

Note: Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$