xvi. Keiper, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2.40 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $1.98 million in annual sales, with costs of $675,000. The tax rate is 34 percent and the required return on the project is 18 percent. What is the project's NPV? You must show work to get full credit. a. $64,103.51 b. $68,592.94 c. $72,731.88 d. $76,012.23 e. $80,337.42