You are a manager at Percolated Fiber, which is considering expanding its operations in synthetic fiber manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and complains, "We owe these consultants $1.6 million for this report, and I am not sure their analysis makes sense. Before we spend the $22.9 million on new equipment needed for this project, look it over and give me your opinion." You open the report and find the following estimates (in millions of dollars): Project Year Earnings Forecast 1 2 9 10 Sales Revenue 32.000 32.000 32.000 32.000 - Cost of Goods Sold 19.200 19.200 19.200 19.200 = Gross Profit 12.800 12.800 12.800 12.800 - General, Sales and Administrative Expenses 1.832 1.832 1.832 1.832 - Depreciation 2.290 2.290 2.290 2.290 = Net Operating Income 8.678 8.678 8.678 8.678 - Income Tax 3.037 3.037 3.037 3.037 = Net Income 5.641 5.641 5.641 5.641 a. Given the available information, what are the free cash flows in years 0 through 10 that should be used to evaluate the proposed project? The free cash flow for year 0 is million. (Round to three decimal places.) You are a manager at Percolated Fiber, which is considering expanding its operations in synthetic fiber manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and complains, "We owe these consultants $1.6 million for this report, and I am not sure their analysis makes sense. Before we spend the $22.9 million on new equipment needed for this project, look it over and give me your opinion." You open the report and find the following estimates (in millions of dollars): Project Year Earnings Forecast 1 2 9 10 Sales Revenue 32.000 32.000 32.000 32.000 - Cost of Goods Sold 19.200 19.200 19.200 19.200 = Gross Profit 12.800 12.800 12.800 12.800 - General, Sales and Administrative Expenses 1.832 1.832 1.832 1.832 - Depreciation 2.290 2.290 2.290 2.290 = Net Operating Income 8.678 8.678 8.678 8.678 - Income Tax 3.037 3.037 3.037 3.037 = Net Income 5.641 5.641 5.641 5.641 a. Given the available information, what are the free cash flows in years 0 through 10 that should be used to evaluate the proposed project? The free cash flow for year 0 is million. (Round to three decimal places.)