NEW PROJECT ANALYSIS You must evaluate the purchase of a proposed spectrometer for the R&D department. The base price is $280,000, and it would cost another $70,000 to modify the equipment for special use by the firm. The equipment fats into the MACRS 3-year class and would be sold after 3 years for $84,000. The applicable depreciation rates are 33%, 45%, 15%, and 7%. The equipment would require a $10,000 increase in net operating working capital (spare parts inventory). The project would have no effect on revenues but it should save the firm $67,000 per year in before-tax labor costs. The firm's marginal federal-plus-state tax rate is 40% What is the initial investment outlay for the spectrometer, that is, what is the Year 0 project cash flow? Round your answer to the nearest cent. Negative amount should be indicated by a minus sign b. What are the project's annual cash flows in Years 1, 2, and 37 Round your answers to the nearest cent In Year 2 In Year If the WACC is 10%, should the spectrometer be purchased