Firm A's new project needs $325,000 for new fixed assets (long term assets), $160,000 for additional inventory and $35,000 for additional accounts receivable. This is a five year project. Use straight line depreciation approach to calculate the depreciation expenses. By the end of the fifth year, the value of the fixed assets = 0. However, the market value of the assets = 25% of their original cost. At the end of the project, the networking capitals tend to return to its original level. Annual sales is expected to be $600,000 and costs = $450,000. The tax rate = 35%. Required rate of return -15%. 1. What is the initial cost of this project? 2. What is the operating cash flows from year 1 to year 4 3. What is the operating cash flows in year 5 (last year)