Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.37 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 $1,780,000 in annual sales, with costs of $690,000. The tax rate is 24 percent and the required return on the project is 11 percent. What is the project's NPV? (Do not round Intermediate calculations. Enter your answer in dollars, not millions of dollars, and round your answer to 2 decimal places, e.g., 1,234,567.89.) NPV A proposed new project has projected sales of $180,000, costs of $89,500, and depreciation of $24,700. The tax rate is 25 percent. Calculate operating cash flow using the four different approaches. (Do not round Intermediate calculations.) Operating cash flow EBIT + Depreciation - Taxes Top-down Tax-shield Bottom-up