This is the only question I need to be answered/explained: Calculating Project NPV: In the previous problem, suppose the required return on the project is 12 percent. What is the projects NPV? ( I know the answer is NPV $128,787.07 ) But, can you show me the steps on how to solve it?

Previous problem answer

Cash flows:
Annual sales			$1,735,000.00
Less: Annual cost			$650,000.00
Less: Dep	2,320,000/3	$773,333.30
Before tax Income			$311,666.70
Less: Tax 21%			$65,450.00
After Tax			$246,216.70
Add: Dep			$773,333.30
OFC		$1,019,550.00

Also, the original question for this one was....

Calculating Project OCF [LO1] Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.32 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $1.735 million in annual sales, with costs of $650,000. If the tax rate is 21 percent, what is the OCF for this project?