The table below gives estimates of the effects of an investment for a company (all figures USD 1000 [k $]). Year O 1 2 3 10440 23520 14593 Sales revenue 5220 11760 7296 2600 2600 2600 Variable costs Fixed costs Initial investment 12900 Net working capital Free cash flows ? 216 864 441 2400 7200 4701 Of the initial investment, $ 7.8 million is the acquisition cost of the equipment, which will be fully depreciated on a straight-line basis over 3 years. The rest of the initial investment is development costs, which the company deducts from its profit immediately. The corporate income tax rate is 20 %. What is the net present value of the investment when the return requirement (opportunity cost of capital) for the investment is 8 %? How about when it's 12%? If the product is pre-developed in year 0, but due to some problems, the initial investments and launching production and sales are delayed for a year, it is estimated that all revenue and costs and hardware investment will be moved a year forward. What is the net present value in this case [K ]