Winter Tyme, Inc., produces coats and jackets for the Seattle market. The company is considering a new $3-$year expansion project into the Portland market. The expansion requires an initial investment of $$4\mathrm{.}32$ million in new plant and equipment. These assets will be depreciated straight$-$line to zero over its $3-$year tax life, after which time the assets can be sold for $$336,000.$

The expansion also requires an initial investment in net working capital of $$480,000,$ but this investment will be recovered at the end of the project's life. The project is estimated to generate $$3,840,000$ in annual sales, with costs of $$1,536,000.$ The tax rate is $35$ percent and the required return on the project is $12$ percent.

Required:

$($a$)$ What is the project's start$-$up cost$,$ the year $0$ cash flow from assets? Hint. this typically doesn't include OCF.

$($b$)$What is the project's year $1$ cash flow from assets?

$($c$)$What is the project's year $2$ cash flow from assets?

$($d$)$What is the project's year $3$ cash flow from assets?

$($e$)$What is the NPV$?$