The president of your company, MorChuck Enterprises, has asked you to evaluate the proposed acquisition of a new chromatograph for the firm's R&D department. The equipment's basic price is $$77,000,$ and it would cost another $$16,500$ to modify it for special use by your firm. The chromatograph, which falls into the MACRS $3-$year class, would be sold after $3$ years for $$31,700.$ The MACRS rates for the first three years are $0\mathrm{.}3333,0\mathrm{.}4445$ and $0\mathrm{.}1481.($Ignore the half$-$year convention for the straight$-$line method.$)$ Use of the equipment would require an increase in net working capital $($spare parts inventory$)$ of $$3,650.$ The machine would have no effect on revenues, but it is expected to save the firm $$23,670$ per year in before$-$tax operating costs, mainly labor. The firm's marginal federal$-$plus$-$state tax rate is $25\%.$ Cash outflows and negative NPV value, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest dollar.

a$)$ What is the Year$-0$ net cash flow?

b$)$ What are the net operating cash flows in Years $1,2,$ and $3?($Note: Do not include recovery of NWC or salvage value in Year $3\text{'}$s calculation here.$)$

Year $1$:

Year $2$:

Year $3$:

c$)$ What is the additional $($nonoperating$)$ cash flow in Year $3?$

d$)$ If the project's cost of capital is $10\%,$ what is the NPV of the project?