Revenues generated by a new fod product are forecast as follows: Year Revenue 560,000 45,000 a 30,000 10,000 Thereafter 0 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 Required: a. What is the initiat 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 30%, what are the project cash flows in each year? Assume the plant and equipment are worthless at the end of 4 years, c. If the opportunity cost of capital is 15%, what is the project's NPV? d. What is project IRR? Complete this question by entering your answers in the tabs below. Req A Req B Reg C and D What is the initial investment in the product? Remember working capital. tial investment RO ReqB >