Quad Enterprises is considering a new 3-year expansion project that requires an initial fixed asset investment of $3.564 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 $277,200. The project requires an initial investment in net working capital of $396,000. The project is estimated to generate $3,168,000 in annual sales, with costs of $1,267,200. The tax rate is 24 percent and the required return on the project is 14 percent.

What is the project's Year 0 net cash flow? $-3,960,000 $-4,158,000 $-4,356,000 $-3,762,000 $-3,564,000

What is the project's Year 1 net cash flow? 1,729,728 $1,816,214 $1,902,701 $1,643,242 $1,556,755

What is the project's Year 2 net cash flow? 1,729,728 $1,816,214 $1,902,701 $1,643,242 $1,556,755

What is the project's Year 3 net cash flow? 2,336,400 $2,453,220 $2,570,040 $2,219,580 $2,102,760

What is the NPV? 465,278 $(1,125,303) $2,427,128 $451,792 $488,542