The president of Widget Lab Inc. has asked you to evaluate the proposed acquisition of a labeling machine. The purchase price of machine is $55,000 with an additional shipping cost of $4000, and it falls into the MACRS 3-year class (depreciation rates are 33%, 45% 15%, 7% respectively). Purchase of machine would require one time increase in net operating working capital of $5,000. The project would increase the firm's before-tax revenues by $28,000 per year but would also increase operating costs by $8,000 per year. The machine is expected to be used for 3 years and then be sold for $25,000. The firm's marginal tax rate is 21percent, and the project's cost of capital is 9 percent. A. What is the initial cash outflow required at t = 0? B. What is the operating cash flow in Year 2? C. What is the non-operating (terminal) cash flows at the end of Year 3? d. What are the NPV and IRR of the project