IBT Tech Inc is considering a new 3-year investment project thatrequires an initial fixed asset investment of $4.49 million. The fixed asset will be depreciated straight-line to zero over itsthree-year life. The project is estimated to generate$3,010,000 in sales per year with additional costs of $905,000 peryear. The tax rate is 30% and the required return(appropriate discount rate) is 16%. The fixed asset shouldhave a market (or salvage) value of $595,000 at the end of theproject. In addition, the project requires an initial investment innet working capital of $160,000 which will be fully recovered inthe third year.

Please attach a file that clearly showscalculations for (A) the NPV of thisinvestment, and (B) the marginal taxrate that would cause the firm to reverse decision based on NPV inpart A (tax rate that yields NPV=0). Please highlight yourfinal answer in red so I can find it easily!