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What are the steps to figure out this question? I personally like steps to follow when doing homework Elmdale Enterprises is deciding whether to expand

image text in transcribedimage text in transcribedWhat are the steps to figure out this question? I personally like steps to follow when doing homework

Elmdale Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows for the first two years (in millions of dollars) Year 1 Year 2 Revenues COGS and Operating Expenses (other than depreciation) Depreciation Increase in Net Working Capital Capital Expenditure:s Marginal Corporate lax Rate 122.9 39.1 29.4 3.2 33.6 35% 158.7 54.4 42.4 8.5 37.8 35% a. What are the incremental earnings for this project for years 1 and 2? (Note: Assume any incremental cost

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