Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.41 million. The fixed asset falls into the three-year MACRS class(MACRS schedule). The project is estimated to generate $1,775,000 in annual sales, with costs of $672,000. The project requires an initial investment in net working capital of $380,000, and the fixed asset will have a market value of $375,000 at the end of the project.

a.If the tax rate is 23 percent, what is the project's Year 0 net cash flow? Year 1? Year 2? Year 3?(A negative answer should be indicated by a minus sign.Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to two decimal places, e.g., 1,234,567.89.)b.If the required return is 9 percent, what is the project's NPV?(Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to two decimal places, e.g., 1,234,567.89.)

Property Class Year Three-Year Five-Year Seven-Year 33.33% 20.00% 14.29% 44.45 32.00 24.49 14.81 19.20 17.49 7.41 11.52 12.49 11.52 8.93 5.76 8.92 8.93 4.46