Q3. The Bruin's Den Outdoor Gear is considering a new 7-year project to produce a new tamine line. The equipment necessary would cost $1.91 million and be depreciated using straight-line depreciation to a book value of zero. At the end of the project, the equipment can be sold for 10 percent of its initial cost. The company believes that it can sell 30,000 tents per year at a price of S77 and variable costs of 836 per tent. The fixed costs will be 525,000 per year. The project will require an initial investment in net working capital of $245,000 that will be recovered at the end of the project. The required rate of return is 12.7 percent and the tax rate is 40 percent. a. What is after-tax salvage value for the equipment? (15) b. What is annual operating cash flow for the new project? (15) c. What is the NPV? Will you recommend accept the project based on your NPV result? Why