PC Shopping Network may upgrade its modem pool. It last upgraded 2 years ago, when it spent $75 million on equipment with an assumed life of 5 years and an assumed salvage value of $10 million for tax purposes. The firm uses straight-tine depreciation. The cid equipment can be sold today for $80 million. A new modem pool can be installed today for $180 million, This will have a 3 -year life and will be depreciated to zero using straight-line depreciation. The new equipment will enable the firm to increase sales by $36 million per year and decrease operating costs by $18 milion per year. At the end of 3 years, the new equipment will be worthiess. Assume the firm's tax rate is 30% and the discount rate for projects of this sort is 10%. Required: a. What is the net cash flow at time 0 if the old equipment is replaced? Note: Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. b. What are the incremental cash fows in years: (i) 1 ; (ii) 2 ; (iii) 3 ? Note: Do not round intermediate calculations. Enter your answer in mallions rounded to 2 decimal places. c. What is the NPV of the replacement project? Note: Do not round intermediate calculations. Enter the NPV in millions rounded to 2 decimal places. d. What is the IRR of the replacement project? Note: Do not round intermediate calculations. Enter the IRP as a percent rounded to 2 decimal places