You are given the following data:

Project life: 10 years

Revenues: constant at MYR 10M

Costs: 20% of revenues

NWC: 10% of the revenues in the following year

Upfront investment at time 0: MYR 25M, depreciated straight-line to zero, salvage MYR 10M

taxes in Malaysia: 15%

WACC in USD 10%

Spot rate MYR 4.13/USD

inflation in USA 1.5%

inflation in Malaysia 2.5%

Question(s):

- Compute the free cash flow in year 0 in MYR. If this is an outflow please enter a negative number.

- Compute the free cash flow in year 1 in MYR. If this is an outflow please enter a negative number.

- Compute the free cash flow in year 10 in MYR. If this is an outflow please enter a negative number. Don't forget the salvage value and the taxes!