KLP Ltd is deciding whether to expand its production facility located in Melbourne. The expansion will cost $30 million and management has projected the following cash flows (in millions of dollars) associated with the first two years of the project. Year 0 Revenues Operating costs (ex. Depreciation) Depreciation Increase in net working capital Capital expenditure Marginal corporate tax rate Year 1 $100.0 $50.0 $14.0 $4.0 $0.0 30% Year 2 $160.0 $60.0 $12.0 $8.0 $0.0 30% $30.0 a) Calculate the incremental after-tax earnings for this project in years 1 and 2. b) Calculate the net after-tax cash flows (that is, free cash flows) for this project in years 1 and 2