Netflix is considering making a new investment of $1000 and has come with the following estimates: revenues are 2850, operating expenses 800, 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. Answer for part 1 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) Answer for part 2 Estimate the net present value of this project. Answer for part 3 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. Answer for part 4 Estimate the net present value of the project with the working capital. Answer