Revenues generated by a new fad product are forecast as follows: Year Revenues $40,000 30,000 20,000 5,000 Thereafter Expenses are expected to be year. The product requires an immediate investment of $49,000 in plant and equipment a. What is the initial investment in the product? Remember working capital. 40% of revenues, and working capital required in each year is expected to be 20% of revenues in the following Initial investment 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 tax rate 20%, what are the project cash flows in each year? (Enter your answers in thousands of dollars. Do not round intermediate calculations. Round your answers to 2 decimal places.) Year Cash Flow If the opportunity cost of capital is 10% what is project NPV (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) c. NPV d. What is project IRR? (Do not round intermediate calculations. Round your answer to 2 decimal places) IRR