H. Cochran Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.45 million. The fixed asset qualifies for 100 percent bonus depreciation in the first year. The project is estimated to generate $1,795,000 in annual sales, with costs of $688,000. The project requires an initial investment in net working capital of $420,000, and the fixed asset will have a market value of $435,000 at the end of the project. 02:53:39 a. If the tax rate is 22 percent, what is the project's Year O net cash flow? Year 1? Year 2? Year 3? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to two decimal places. e... 32.16.) b. If the required return is 9 percent, what is the project's NPV? (Do not round intermediate calculations and round your answer to two decimal places, e.g.. 32.16.) Book Print rences a. Year 0 cash flow Year 1 cash flow Year 2 cash flow Year 3 cash flow b. NPV