Revenues generated by a new fad product are forecast as follows: Expenses are expected to be 50% of revenues, and working capital required in each year is expected to be 10% of revenues in the following year. The product requires an immedlate investment of $54,000 in plant and equipment. Required: a. What is the initial investment in the product? Remember working capital. b. If the plant and equipment are depreciated over 4 years to a salvage value of zero using straight-ine depreciation, and the firm's tax rate is 20%, what are the project cash flows in each year? c. If the opportunity cost of capital is 10%, what is project NPV? d. What is project IRR? Complete this question by entering your answers in the tabs below. What is the initial investment in the product? Remember working capital. a. What is the initial investment in the product? Remember working capital. 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 is 20%, what are the project cash flows in each year? c. If the opportunity cost of capital is 10%, what is project NPV? d. What is project IRR? Complete this question by entering your answers in the tabs below. C. If the opportunity cost of capital is 10\%, what is project NPV? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. d. What is project IRR? Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decmal places