Use the following information for the next four questions: Gibson Guitars is considering expanding one of its production facilities to build a new line of guitars honoring legendary guitarist Les Paul. The project would require a $6,000,000 capital investment and will be depreciated (straight-line to zero) over its 3 year life. Sales are expected to be $8,000,000 annually for the 3 year period with costs (excluding depreciation) at 30% of sales. The company would also have to commit initial working capital to the project of $1,000,000. The company has a 35% tax rate. 23) Project cash flow (Free Cash Flow) for Year 0 is: a) $9,000,000 b) -$9,000,000 c) $7,000,000 d) $7,300,000 e) -$1,000,000 24) Project cash flow (Free Cash Flow) for Year 1 is: a) $5,800,000 b) $4,756,000 c) $2,800,000 d) $3,800,000 e) $4,340,000 25) Project cash flow (Free Cash Flow) for Year 2 is: a) $5,800,000 b) $4,756,000 c) $2,800,000 d) $3,800,000 e) S4,340,000 26) Project cash flow (Free Cash Flow) for Year 3 is: a) $5,340,000 b) $4,792,000 c) $2,800,000 d) $3,800,000 e) $6,056,000