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Please answer question using formulas and not excel. Thank you for your help! Down Under Boomerang, Inc., is considering a new three-year expansion project that

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Please answer question using formulas and not excel. Thank you for your help!

Down Under Boomerang, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2.88 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless The project is estimated to generate $2,140,000 in annual sales, with costs of $835,000. The tax rate is 35 percent and the required return is 10 percent. What is the project's NPV? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV

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