Related to Checkpoint 12.1) (Calculating project cash flows and NPV) You are considering expanding your product Ine that curpenty conssats of skatebourds to indude gas-powered deateboards, and you teel you can sel 9.000 of these per year for 10 years (after which time this project is expected lo ahut down with solar-powered skatebosids taking over). The gas skateboardi vould sell for $110 each with variable cosis of $30 for each coe produced, and annual ficed costs associated with production would be $150,000. In addition, thore would be a $1,400,000 initial oxpenditure associated with the purchase of new production equipment. it is assumed that this initial expenailure will be dopreciated using the simplified straightline method dom to zero over 10 . years. The project will also require a one-time initial investment of $80,000 in net working captal assoclated with inventory, and this warking capital investment wit be reconered when the project is shut down. Finally, astume that the firm's marginal tax rate is 37 porcent a. What is the initial cash outiay associated with this project? b. What are the annual nel cash flows associatod with this project for years 1 through 9 ? c. What is the leminal cash flow in year 10 (that is, what is the feee cash flow in yeac 10 plus any additional cash fiows associated with termination of the project)? d. What is the projpct's NPV given a reguired rate of return of 8 percont? a. The intial cash outiny absociated with this project is 1 (RRound to the nearest dollac.) b. The annuai net cath flows associated with this propect foe years 1 through 9 ase 1 (Round to the nearest dollar)