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Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $4.806 million. The fixed asset will be

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Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $4.806 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 of $373,800. The project requires an initial investment in net working capital of $534,000. The project is estimated to generate $4,272,000 in annual sales, with costs of $1,708,800. 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? (b)What is the project's year 1 net cash flow? (c) What is the project's year 2 net cash flow? (d) What is the project's year 3 net cash flow? (e) What is the NPV

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