Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $2.0 million. The fixed asset falls into the 3-year MACRS class (MACRS Table) and will have a market value of $155,400 after 3 years. The project requires an initial investment in net working capital of $222,000. The project is estimated to generate $1,776,000 in annual sales, with costs of $710,400. The tax rate is 34 percent and the required return on the project is 12 percent. (Do not round your intermediate calculations.)

Required:
(a)	What is the project's year 0 net cash flow?
	-2,110,900 -2,222,000 -883,443 -1,999,800 -836,946

(b)	What is the project's year 1 net cash flow?
	929,940 976,437 1,022,934 836,946 883,443

(c)	What is the project's year 2 net cash flow?
	1,055,834 955,278 836,946 976,437 1,005,556

(d)	What is the project's year 3 net cash flow?
	1,061,060 1,120,008 976,437 1,237,904 1,178,956

(e)	What is the NPV?
	249,084.25 204,201 236,630 261,538 4,455,613