You have been asked by the president of starbrite manufacturing to evaluate the proposed acquisition of a new industrial robot. The robots basic price is $$110000$ and it would cost another $$10000$ to modify it for special use.Assume that it would be sold after $3$ years for $$45000$ and that it would require an increase in net working capital $($spare parts inventory$)$ of $$2000.$ The industrial robot would have no effect on revenues, but it expected to save the firm $$40000$ per year in before$-$tax operating costs, mainly labor.In group prepare the following:$1.$ What is to total investment in the project $($i$.$e$.$ time $0$ cash flows$)2.$ If taxes are $$6000$ in year $1,$ $$2820$ in year $2$ and $$5574$ in year $3,$ what are the operating cash flows for years $1,2,3?($Hint: make a table where each row is a cash flow and each column is a year$)\mathrm{.}3.$ What are the additional $($nonoperating$)$ cash flows in year $3?4.$ In your teams, organize this information into one total cash flow schedule.