shut down. Finally, assume that the firm's marginal tax rate is $32$ percent.

a$.$ What is the initial cash outlay associated with this project?

b$.$ What are the annual net cash flows associated with this project for years $1$ through $9?$

c$.$ What is the terminal cash flow in year $10($that is$,$ what is the free cash flow in year $10$ plus any additional cash flows associated with termination of the project$)?$

d$.$ What is the project's NPV given a required rate of return of $8$ percent?

a$.$ The initial cash outlay associated with this project is $

$($Round to the nearest dollar.$)$