Holly Inc. is considering a new-3 year expansion project that requires an initial fixed assets investment of $1.188 million. The fixed asset will be depreciated straight-line to zero over its 3-year life, after which time it will have a market value of $92,400 (before tax). The project requires an initial investment in net working capital of $132,000. The project is estimated to generate $1,056,000 in annual sales, with costs of $422,400. The tax rate is 31 percent and the required return on the project is 9 percent. Required: (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?