tlon 2 Adidas Corp is evaluating the purchase of the new machine for which the following information is given . The initial investment required for the project is $3 million (all in time zero) The project value (the $ 1.8 million) will be depreciated equally over the useful life of the project. The expected sales from the new machine is estimated to be $1,500,000 in first year, and $1,300,000 thereafter. A decrease in the net working capital of $140,000 is expected. The cost of goods sold is expected to be 7% of sales in each year An operating cost saving of $570,000 is expected every year. . . . Tax rate equals 35% . The useful life of the project is estimated to be 4 years. The Sales, and other expenses is expected to equal 30% of sales each year. . Based on the above information, and assume the hurdle rate of return is 11.54% answer the following: d) Find the Free Cash Flow of the project each year (and in time zero) e) Based on your answer in part a, find the NPV and IRR of the Project f) Based on your answer in part b, do you recommend the company to apply the project? Why