Revenues generated by a new fad product are forecast as follows Year $60,800 45,000 30,000 10,800 Thereafter Expenses are expected to be 40% of revenues, and working capital required in each year is expected to be 20% of revenues in the following year. The product requires an immediate investment of $60,000 in plant and equipment a. What is the initial investment in the product? Remember working capital Initial investments $ 72, es b. If the plant and equipment are depreciated over 4 years to a salvage value of zero using straight-line depreciation, and the firm's to rate is 30%, what are the project cash flows in each year? Assume the plant and equipment are worthless at the end of 4 years (Do not round Intermedlate colculations.) Year Cash Flow c. If the opportunity cost of capital is 15%, what is the project's Np. (A negative velue should be indicated by a minus ,ign. Do not round Intermedlate colculations. Round your answer to 2 decimal places) d. What is project IRR? (Do not round Intermedlate colculations. Enter your answer as a percent rounded to 2 decimal places,)