Net Present Value Holland, Inc. has just completed development of a new cell phone. The new product is expected to produce annual revenues of $1,350,000. Producing the cell phone requires an investment in new equipment, costing $1,440,000. The cel phone has a projected life cycle of 5 years. After 5 years, the equipment can be sold for s180,000. Working capital is also expected to increase by $180,000, which Holland wil recover by the end of the new product's life cycle. Annual cash operating expenses are estimated at s810,000. The required rate of return is 8%. 1. Prepare a schedule of the projected annual cash flows. Holland, Inc. Annual cash flows For Five Years Cash Flow ear 0 Total Year 1-4 (per year) Total Total