Suppose you are evaluating a project to produce the Ultimate recreational tennis rackets. You estimate that the sales to be $400,000 each year for the next three years. In addition, you figure that the project has a life of 3 years. The project requires an initial capital investment of $105,000 which will be depreciated straight line to zero over the three-year life of the project (i.e. 1/3, 1/3, and 1/3). Initial net working capital (NWC) investment is $75,000. Calculate the total initial cash flow at t = 0. -$75.000 $220.000 -$180,000 $400,000 -$105,000