Hip Hop Tunes is an internet-based subscription music club offering subscribers hip hop music 24/7. The company would like to take advantage of the recent popularity of Heavy Metal and would like to expand their operations to include this music in their offerings. - The company has a required return of 15%. The initial investment is for $300,000 in computer equipment that can be depreciated using the MACRS 5-year schedule (20%, 32%, 19.2%, 11.52%, 11.52% and 5.76%). There is a small investment into working capital of $30,000. Initial price is $12.00 per subscriber and the firm expects first year subscribers to total 10,000, and subscriber growth to increase by 2,000 for the two years that follow (years 2&3). For years 4&5, the firm expects subscriber growth to decrease by 4,000 each year (years 4&5). The project will be terminated after year 5. The firm will incur $50,000 in fixed expenses for each of the five years the project is active. At the end of year 5, the firm will sell the equipment for $45,000 and liquidate the current level of working capital of $40,000. The firm has a tax rate of 25%. 1. Calculate the initial investment. 2. Calculate the operating cash flows for years 1-5. 3. Calculate the terminal value of the project. 4. Calculate the Net Present Value of the project. 5. Make a recommendation to the firm if it should proceed or not and provide reasoning for your answer. SHOW ALL OF YOUR WORK AND HOW YOU ARRIVED AT EACH CALCULATION.