Your job: Determine whether HP should produce a high-end smartphone. The project lasts 6 years. Investments - $30 million in year 0 for machinery. Assume straight-line depreciation over 6 years - Machinery will be sold for $2.5 million at the project's end - NWC of $3 million to begin the project, which will increase at a 4% rate each year Revenue and cost estimates - $50 million in year 1 , growing at 10% yearly after - Annual operating costs of (a) $30 million fixed, and (b) variable costs of 30% of annual revenues Tax rate =30%, Discount rate =12%