Tim and Kim have a partnership and both partners all have a marginal tax rate of 42%. They would like you to evaluate a project for them and have provided the following details: - The initial investment in the project is $800000 for factory equipment. The tax office allows prime cost depreciation at the rate of 25% p.a. on these assets. - The assets purchased at the commencement of the project will be sold at the end of the project for $100000. - The assets require a tax-deductible overhaul that will cost $20000 before production can begin in year 4. - Working capital will be 10% of revenues for each year. The working capital investment has to be made at the start of each period. All working capital will be recovered. - Cost of goods sold is 25% of sales. - Wages are $110000 per annum - The required return of the partners is 15%. Required: Find the relevant cash flows for the project and then calculate NPV for the project. Make a recommendation whether the project should be accepted