Question 7 0.67 / 1 pts Phone Home, Inc. is considering a new 5-year expansion project that requires an initial fixed asset investment of $2.484 million. The fixed asset will be depreciated straight-line to zero over its 5-year tax life, after which time it will be worthless. The project is estimated to generate $2,208,000 in annual sales, with annual costs of $883,200. The tax rate is 32 percent and the required return on the project is 11 percent. What is the net present value for this project? To answer this question, we need to identify annual depreciation = 496800 free cash flow FCF = 1059840 , and the final answer is 1433060