H. Cochran, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of exist2, 610,000. The fixed asset will be depreciated straight-line to zero over its three-year tax life. The project is estimated to generate exist2, 320,000 in annual sales, with costs of exist1, 300,000. The project requires an initial investment in net working capital of exist167,000, and the fixed asset will have a market value of exist192,000 at the end of the project. Assume that the tax rate is 40 percent and the required return on the project is 6 percent. What are the net cash flows of the project each year? What is the NPV of the project? NPV exist