PQR Co has asked you to evaluate the following proposal. PQR Co is contemplating the purchase of a new machine for $$750,000$ to produce a new PQR drink. This machine would be used for $4$ years, after which the machine will be worthless. Launch of the new PQR drink will also require a $$65,000$ increase in working capital $-$ an increase which will be recovered at the end of the $4$ years $($when the drink is pulled from the market and the machine reaches the end of its useful life$).$ Over this $4-$year product life, PQR Co estimates incremental annual sales of $$365,000$ and increased annual cash$-$costs of $$12,500.$ Based on PQR Co's discount rate of $15\mathrm{.}0\%$ and a marginal tax rate of $21\mathrm{.}0\%$ please answer the following for PQR Co's management:

a$)[2$ pts$]$ What is the total initial investment for this project?

b$)[2$ pts$]$ What is the project's incremental after$-$tax cash flow in year $1?$

c$)[2$ pts$]$ What is the project's incremental after$-$tax cash flow in year $4?$

d$)[1$ pt$]$ If the calculated IRR for this project is $22\mathrm{.}4\%,$ should PQR Co accept this project? Why $-$ please explain your answer.

e$)10$ Extra Credit Points: What is the Net Present Value of this project?