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Quad Enterprises is considering a new 3-year expansion project that requires an initial fixed asset investment of $5.1 million. The fixed asset falls into the

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Quad Enterprises is considering a new 3-year expansion project that requires an initial fixed asset investment of $5.1 million. The fixed asset falls into the 3-year MACRS class (MACRS Table) and will have a market value of $394,800 after 3 years. The project requires an initial investment in net working capital of $564,000. The project is estimated to generate $4,512,000 in annual sales, with costs of $1,804,800. The tax rate is 22 percent and the required return on the project is 13 percent. What is the project's year 0 net cash flow

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