Padmore Corporation has provided the following information concerning a capital budgeting project Investment required in equipment Working capital requirement Nottinual operating canh inow Tax rate Attertax discount rate 3.720,000 5.40,000 300,000 301 65 The expected life of the project and the equipment is 3 years and the equipment has zero salvage value. The working capital would be required immediately and would be released for use elsewhere at the end of the project. The company uses straight line depreciation on all equipment and the depreciation expense on the equipment would be $240.000 per year Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgetin The net annual operating cash inflow is the difference between the incremental sales revenue and incremental cash operating expenses Click here to view Exhibit 148.1 to determine the appropriate discount factores using the table provided Required: Determine the net present value of the project Show your work