Howell Petroleum is considering a new project that complements its existing business. The machine required for the project costs $3.3 million. The marketing department predicts that sales related to the project will be $3 million per year for the next three years, after which the market will cease to exist. The machine will be depreciated straight-line over a tax life of 3 years. At the end of the project, the machine will be worth $800.000 in the market. The Cost of goods sold and operating expenses related to the project is predicted to be equal to $750,000. Howell also needs to spend 5360,000 immediately in additional net working capital. The additional net working canital will be recovered in ful at the end of the project's life. The corporate tax rate is 35 percent. The required rate of return for Howell is 15 percent. a. Calculate the net total cash flows from year 0 to year 3 . (3 marks) b. What is the NPV for this project? Conclude (2 marks)