The local franchise of Jiffy Lube is thinking of buying a new lift for $50,000 that would make it easier to access the oil filter in customers' cars and save labor. The savings would increase over the project's 3-year life, in line with the projected growth of the business. The machine is to be linearly depreciated to zero and will have no resale value after 3 years. The appropriate cost of capital for this project is 14%. The company has a tax rate of 21%. Year 1 Year 2 Year 3 30,000 16,667 13,333 33,000 16,667 16,333 39,600 16,667 22,933 Cost savings Depreciation EBIT Taxes (21%) Net income Depreciation FCF | Attempt 1/1 for 10 pts. Part 1 What is the free cash flow in year 1? What is the free cash flow in year 2? 0+ decimals Submit - Attempt 1/1 for 10 pts. Part 3 What is the free cash flow in year 3? 0+ decimals Submit - Attempt 1/1 for 10 pts. Part 4 What is the NPV of this project