The Best Manufacturing Company is considering a new investment. Financial projections for the investment are tabulated here. The corporate tax rate is 25 percent. Assume all sales revenue is received in cash, all operating costs and income taxes are paid in cash, and all cash flows occur at the end of the year. All net working capital is recovered at the end of the project.

Year 1 Year 2 Year 3 Year 4 Year 0 $27,800 Investment Sales revenue Operating costs Depreciation Net working capital spending $ 14,900 $ 16,500 $ 17,900 $14,400 3,650 3,475 5,700 4,300 6,950 6,950 6,950 6,950 275 375 225 375 a. Compute the incremental net Income of the Investment for each year. (Do not round Intermediate calculations.) Year 1 Year 2 Year 3 Years Net income b. Compute the incremental cash flows of the Investment for each year. (Do not round Intermediate calculations. A negative amount should be indicated by a minus slgn.) content Year were set Santa Year 1 Year 2 Year 3 | Year 4 Cash flow c. Suppose the appropriate discount rate is 11 percent. What is the NPV of the project? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV