USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 31-34 . . . Last year, Muskett Inc., which makes nonflammable fireworks, hired an engineering firm to evaluate the technical capabilities of three different pieces of high-tech equipment that may be used in their manufacturing process. The study cost $300,000 and the results suggested that only the ECU-9 was capable of meeting Muskett's needs. The ECU-9 will cost $4 million The equipment will be depreciated straight-line over 25 years to a salvage value of $400,000 and sold for that amount in 25 years If purchased the ECU will increase revenues by $2.3 million per year and increase operating cost by $1.5 million per year. The company will increase net working capital by $180,000 at the beginning of the project. This working capital will be liquidated at the end of the project The marginal tax rate is 25% The cost of capital is 13.00% 31. Based on this information, the initial net cash flow of the project i.e., CFO) is S a. -4,140,000 b. 4,150,000 -4,160,000 d. 4,170,000 e-4,180,000 . c. 32. Based on this information, the project's total cash flow in year 25 is $ a. 9,836,000 b. 1,036,000 c. 1.186,000 d. 1,206,000 e. 1,216,000 33. Based on this information, the project's NPV is $ a 509,189.58 b. 518,718.56 c. 522,974.82 d. 537,776.52 e. 540.005.99 %. 34. Based on this information, the project's IRR is a. 14.70 b. 14.80 c. 14.84 d. 14.91 15.01