Quad Enterprises is considering a new 3-year expansion project that requires an initial fixed asset investment of $3.348 million. The fixed asset will be depreciated straight-line to zero over its 3-year tax life, after which time it will have a market value of $260,400. The project requires an initial investment in net working capital of $372,000. The project is estimated to generate $2,976,000 in annual sales, with costs of $1,190,400. The tax rate is 22 percent and the required return on the project is 12 percent. What is the project's Year O net cash flow? Year 0 cash flow $-3,720,000 $-3,906,000 $-4,092,000 $-3,534,000 What is the project's Year 1 net cash flow? Year 1 cash flow