Intro The local franchise of Jiffy Lube is thinking of buying a new lift for $40,000 that would make it easier to access the oil filter in customers' cars and save labor. The savings would increase over the project's 3-year life, in line with the projected growth of the business. The machine is to be linearly depreciated to zero and will have no resale value after 3 years. The appropriate cost of capital for this project is 16%. The company has a tax rate of 21% Year 1 Year 3 20,000 13,333 6,667 Year 2 22,000 13,333 8,667 26,400 13,333 13,067 Cost savings Depreciation EBIT Taxes (21%) Net income Depreciation FCF Attempt 1/1 for 10 pts. Part 1 What is the free cash flow in year 1? 0+ decimals Submit Attempt 1/1 for 10 pts. Part 2 What is the free cash flow in year 2? 0+ decimals Submit - Attempt 1/1 for 10 pts. Part 3 What is the free cash flow in year 3? 0+ decimals Submit - Attempt 1/1 for 10 pts. Part 4 What is the NPV of this project? 0+ decimals Submit