Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $3.888 million. The fixed asset will be depreciated straight-line to zero over its 3-year tax life, after which time it will have a market value (salvage value) of $302,400. The project requires an initial investment in net working capital of $432,000. The project is estimated to generate $3,456,000 in annual sales, with costs of $1,382,400. The tax rate is 32 percent and the required return on the project is 10 percent.

Required:
(a)	What is the project's year 0 net cash flow (or cash flow from assets)?
	(Click to select) -3,888,000 -4,320,000 -4,104,000 -4,536,000 -4,752,000

(b)	What is the project's year 1 net cash flow (or cash flow from assets)?
	(Click to select) 1,916,006 2,007,245 1,642,291 1,733,530 1,824,768

(c)	What is the project's year 2 net cash flow (or cash flow from assets)?
	(Click to select) 2,007,245 1,916,006 1,824,768 1,733,530 1,642,291

(d)	What is the project's year 3 net cash flow (or cash flow from assets)?
	(Click to select) 2,462,400 2,585,520 2,708,640 2,216,160 2,339,280

(e)	What is the NPV?
	(Click to select) 649,928 696,990 -810,744 731,840 1,722,873