Year 1unit sales Year 2 unit sales Year 3 unit sales Year 4 unit sales Year 5 unit sales Initial NWC Additional NWC/year Fixed costs Variable cost per unit Unit price Equipment cost Salvage value 1% of original cost Tax rate Required return MACRS depreciation 82,000 90,200 99,200 84,000 73,000 1,100,000 16% of the projected sales revenue increase or decrease for the following year. 3,100,000 240 360 14,000,000 20% 35% 16% 14.29% Year 1 24.49% Year 2 17.492 Year 3 12.49% Year 4 8.93% Year 5 Oupute Year Ending book value Sales Variable costs Fixed costs Depreciation EBIT Taxes Net income Depreciation Operating cash flow Masha's Operating cash flow Change in NWC Capital spending Total cash flow Net present value Internal rate of return