Use the following to answer questions 7-9: A project requires an initial fixed asset investment of $600,000, which will be depreciated straight-line to zero over the 6-year life of the project. The pretax salvage value of the fixed assets at the end of the project is estimated to be $50,000. Projected sales volume for each year of the project is shown below. The sale price is $50 per unit for the first 3 years, and $45 per unit for years 4 through 6. A $30,000 initial investment in net working capital is required, with additional investments equal to 7.5% of annual sales for each year of the project. Variable costs are $35 per unit, and fixed costs are $50,000 per year. The firm has a tax rate of 34% and a required return on investment of 12%. Year Sales 1 10,000 2 12,500 3 15,625 C) Use $65,917 D) Recover $5,123 E) Recover $16,342 4 19,531 5 24,414 7. What is the operating cash flow during year 5 of the project? A) $ 66,429 B) $107,426 C) $117,406 D) $162,132 E) $189,025 9. What is the NPV of the project? A) -$ 31,396 B) -$ 6,980 C) $ 86,980 D) $ 97,516 E) $133,255 6 30,518 8. What is the additions to NWC during year 4 of the project? A) Use $4,125 B) Use $7,323

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Use the following to answer questions 7-9: A project requires an initial fixed asset investment of $600,000, which will be depreciated straight-line to zero over the 6-year life of the project. The pretax salvage value of the fixed assets at the end of the project is estimated to be $50,000. Projected sales volume for each year of the project is shown below. The sale price is $50 per unit for the first 3 years, and $45 per unit for years 4 through 6 . A $30,000 initial investment in net working capital is required, with additional investments equal to 7.5% of annual sales for each year of the project. Variable costs are $35 per unit, and fixed costs are $50,000 per year. The firm has a tax rate of 34% and a required return on investment of 12%. 7. What is the operating cash flow during year 5 of the project? A) $66,429 B) $107,426 C) $117,406 D) $162,132 E) $189,025 8. What is the additions to NWC during year 4 of the project? A) Use $4,125 B) Use $7,323 C) Use $65,917 D) Recover $5,123 E) Recover $16,342 9. What is the NPV of the project? A) 531,396 B) $6,980 C) $86,980 D) $97,516 E) $133,255