Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $4.8 million. The fixed asset falls into the 3-year MACRS class (Use MACRS Table) and will have a market value of $369,600 after 3 years. The project requires an initial investment in net working capital of $528,000. The project is estimated to generate $4,224,000 in annual sales, with costs of $1,689,600. The tax rate is 33 percent and the required return on the project is 13 percent. (Do not round your intermediate calculations.

(1)	What is the project's year 0 net cash flow?
	a. -2,114,695 b. -5,328,000 c. -5,061,600 d. -2,003,396 e. -4,795,200

(2)	What is the project's year 1 net cash flow?
	a. 2,114,695 b. 2,337,295 c. 2,448,595 d. 2,003,396 e. 2,225,995

(3)	What is the project's year 2 net cash flow?
	a. 2,337,295 b. 2,522,243 c. 2,402,136 d. 2,003,396 e. 2,282,029

(4)	What is the project's year 3 net cash flow?
	a. 2,966,927 b. 2,543,080 c. 2,825,645 d. 2,337,295 e. 2,684,363

(5)	What is the NPV?
	a. 10,584,039 b. 390,547 c. 457,373 d. 481,445.69 e. 505,518