You wokk for Apple. Afer toling away oa $10.4 milion worth of prototypes, you have finally produced your answer to Google. Classes. iGlasses (the name alone is gerius). IGlasses will instanty transport the wearer into the world as Apple wants him to experience it ITunes with the wink of an eye and apps that can be activated just by locking at them. You think that these will sell for five years untel the next big thing comes along (or until users are unabie to interact with actual human beings). Revenues are projected to be $451.1 milfon per year along weth experres of $356.4 milion. You will need to spend $562.7 million immediately on additional equipment that will be depreciated using the 5 -year MaCRS schedule. Additionally, you will use some fuly depreciated exist equipment that has a market value of $9.7 milion. As the IGlasses are an outcome of the RSD center. Apple plans to charge $5.4 milion of the annual costs of the center to the igasses product to tour yoars. Finaly, Apple's working capital levels will increase trom their current level of $123 million to $143.4millig immediately. They will remain at the elevated level unti year 4 , when they with return to 5123 millon. Apple's discourt rate for this project is 15.7\% and its tax nale is 21%. Calculate the free cash fows and determine the NPV of this project. (Note: Asseume that the opportunit) cost must be affer-tax and the equipment is put into use in year 1.)