Spokane, Inc, is considering a new 3 -year expansion project that requires an initial fixed asset investment of $1.9 million. The fixed asset falls into the 3-year MACRS class (0.3333,0.4445,0.1481,0.0741) and will have a market value of $214,200 after 3 years. The project requires an initial investment in net working capital of $206,000. The project is estimated to generate $2,448,000 in annual sales, with costs of $979.200. The tax rate is 34 percent and the required return on the project is 8 percent. What is the initial capital outlay for the project? Format tip: don't insert $. Spokane, Inc, is considering a new 3-year expansion project that requires an initial fixed asset investment of $3.2 million. The foxed asset falls into the 3-year MACRS class (0.3333,0.4445,0.1481,0.0741 ) and will have a market value of $252.000 after 3 years. The project requires an initial investment in net working capital of $360,000. The project is estimated to generate $2,880,000 in annual sales. with costs of $1,152,000. The tax rate is 15 percent and the required return on the project is 11 percent. What is the project's year 1 Cash flow