PC Shopping Network may upgrade Its modem pool. lt last upgraded 2 years ago: when it spent $80 million on equipment with an assumed life 0T5 years and an assumed salvage value of $25 million Tortax purposes. The firm uses straight-line depreciation. The old equipment can be sold today for lm million. A new modem pool can be Installed today for $150 million. This will have a 3year life and Will be depreciated to zero usIng straight-line depreciation. The new equipment Will enable the firm to Increase sales by $25 million per year and decrease operating costs by $12 million per year. At the end of3 years, the new equipment Will be worthless. Assume the Tirm's tax rate Is 30% and the discount rate for projects of this sort Is 15%. Required: a. What Is the net cash ow at time 0 lithe old equipment Is replaced? {Negative amounts should be indicated by a min us sign. Do not round Intermediate calculations. Enteryour answer In millions rounded to 2 decimal places.) In. What are the Incremental cash flows In years {i} I; [II] 2; {III} 3? {Do not round Intermediate calculations. Enter your answer In millions rounded to Zdeclmal places} c. What Is the NPV ofthe replacement project? {Do not round Intermediate calculations. Enter the NPV in millions rounded to 2 decimal places.) d. What is the IRR of the replacement project? {Do not round intermediate calculations. Enter the IRR as a percent rounded to 2 decimal places.) Incremental cash flow million peryear a n