Project L requires an initial outlay at t = 0 of $55,000, its expected cash inflows are $11,000 per year for 9 years, and its WACC is 12%. What is the project's NPV? Do not round Intermediate calculations. Round your answer to the nearest cent. $ Colsen Communications is trying to estimate the first-year cash flow (at Year 1) for a proposed project. The assets required for the project were hally depreciated at the time of purchase. The financial staff has collected the following information on the project: Sales revenues $25 million Operating costs 22.5 million 2 million Interest expense The company has a 25% tax rate, and its WACC is 11%. Write out your answers completely. For example, 13 million should be entered as 13,000,000. a. What is the project's operating cash flow for the first year (t = 1)? Round your answer to the nearest dollar. b. If this project would cannibalize other projects by $1 million of cash flow before taxes per year, how would this change your answer to part a7 Round your answer to the nearest dollar. The firm's OCF would now be s Check My Work (2 remaining)