WID Industries has a proposed five-year project with $250,000 equipment cost. In addition, net working capital will increase by $40,000. The annual FCF will be $60,000/year. Finally, the project will not have salvage value in year 5. The firm's marginal tax rate is 40%. WID Industries estimates that a 10 percent return is required for this project.

a. Find the initial outlay, CF0 = I (subscript 0)

b. Find the FCF(subscript t) for years 1-5

c. Find the terminal cash flow, TCF(subscript 5)

d. Compute the NPV and determine whether the project should be undertaken