Question help Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows for the first two years (in millions of dollars): Revenues COGS and Operating expenses (other than depreciation) Depreciation Increase in working capital Capital expenditures Marginal corporate tax rate Year 1 118.3 37.4 21.7 4.4 33.4 35% Year 2 160.5 37.5 34.3 8.9 42.4 35% a. What are the incremental earnings for this project for years 1 and 2? b. What are the free cash flows for this project for the first two years? a. What are the incremental earnings for this project for years 1 and 2? The incremental earnings for year 1 is s million. (Round to one decimal place.) The incremental earnings for year 2 is $ million. (Round one decimal place.) b. What are the free cash flows for this project for the first two years? The free cash flow for year 1 is $0 million. (Round to one decimal place.) The free cash flow for year 2 is $ million. (Round to one decimal place.)