Netflix is considering making a new investment of $1000 and has come with the following estimates: revenues are 2250, operating expenses 900, depreciation $250 per year. The project will end after four years, the marginal tax rate is 40% and the cost of capital for Netflix is 0.08. Estimate the initial investment. Estimate the annual after-tax cash flow to Netflix on this investment. (You have to do it only once since the cash flows are the same every year) Estimate the net present value of this project. Estimate the net present value of this project. Now assume that this project will require Netflix to maintain working capital of 10% of revenues occurring at the beginning of each year and the working capital is recovered at the end. Estimate the new initial investment. Estimate the net present value of the project with the working capital