Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.9 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $2,190,000 in annual sales, with costs of $815,000. If the tax rate is 21 percent, what is the OCF for this project? 4 5 6 7 8 7 Asset investment Estimated annual sales Costs Tax rate Project and asset life $ $ AGA 2,900,000 2,190,000 815,000 21% 3 9 10 11 12 13 Complete the following analysis. Do not hard.code values in your calculations. 14 15 16 Sales Costs Depreciation EBT 17 18 Tax rate Project and asset life 21% 3 Complete the following analysis. Do not hard code values in your calculati =(D7-D8- Sales Costs Depreciation EBT Taxes Net income + OCF