Question 45 6 points Save Answer Woodland Plumbing is considering a new expansion project. The expansion will require new equipment costing $780,000 that would be depreciated straight line over the three- year life of the project. The estimated salvage value is $152,000. The project requires $48,000 initially for net operating working capital, all of which will be recovered at the end of the project. Sales revenues are expected to be $650,000 per year for the next 3 years, and operating costs are expected to be $380,000 per year for the next 3 years. Assume WACC is 14% and the tax rate is 30%. What are the cash flows for each year and what is the net present value (NPV) of this project? a. CFo=-$828,000, CF4 = $267,000, CF2=$267,000, CF3=$467,000; NPV=-$73,130 b. CFo=-$828,000, CF4=$267,000, CF2=$267,000, CF3=$421,400; NPV=-$103,909 CFo=-$828,000, CFy=$189,000, CF2=$189,000, CF3=$343,400; NPV=-$284,996 . d. CFo=-$780,000, CF1 =$267,000, CF2=$267,000, CF3 =$267,000; NPV=-$160,124 O e. CFo= -$780,000, CF1 =$267,000, CF2=$267,000, CF3=$421,400; NPV=-$55,909