Keiper, Inc. is considering a new five-year expansion project that requires an initial fixed asset investment of $5 million. The fixed asset will be depreciated straight-line to zero over its five- year tax life, after which time, it can be sold for $250,000. The project is estimated to generate $4,000,000 in annual sales with costs of $1,250,000. The project requires an initial net working capital requirement of $500,000 which will be fully recouped at the end of the project. The tax rate is 30% and the required return on the project is 15%. a. Find the project operating cash flow for each year. b. Find the project change in net working capital for each year. c. Find the project net capital spending for each year. d. Find the project free cash flow for each year. e. Find the project payback period, profitability index (PI), and net present value (NPV)