Halloween Costumes Unlimited is considering a new 3-year store expansion project that requires an initial fixed asset investment of $5.2 million. The fixed asset falls into the 3-year MACRS class (MACRS Table) and will have a market value of $407,400 after 3 years. The project requires an initial investment in net working capital of $582,000. The project is estimated to generate $4,656,000 in annual sales, with costs of $1,862,400. The tax rate is 35 percent and the required return on the project is 15 percent.

(a) What is the project's year 0 net cash flow?

b) What is the project's year 1 net cash flow?

(c) What is the project's year 2 net cash flow?

(d) What is the project's year 3 net cash flow?

(e) What is the NPV?