You must evaluate the purchase of a proposed spectrometer for the R\&D department. The base price is $220,000, and it would cost another $44,000 to modify the equipment for special use by the firm. The equipment falls into the MACRS 3 -year class and would be sold after 3 years for $77,000. The applicable depreciation rates are 33%,45%,15%, and 7%. The equipment would require a $7,000 increase in net operating working capital (spare parts inventory). The project would have no effect on revenues, but it should save the firm $70,000 per year in before-tax labor costs. The firm's marginal federal-plus-state tax rate is 40% a. What is the initial investment outlay for the spectrometer, that is, what is the Year 0 project cash flow? Round your answer to the nearest cent. Negative amount should be indicated by a minus sign. $ b. What are the project's annual cash flows in Years 1, 2, and 3? Round your answers to the nearest cent. In Year 1$ In Year 2$ In Year 3$ c. If the WACC is 12%, should the spectrometer be purchased