1 2 3 4 5 5 7 B 9 A 0 1 2 3 4 5 6 7 8 READY Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.9 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $2,190,000 in annual sales, with costs of $815,000. The tax rate is 21 percent. If the required return is 12 percent, what is the project's NPV? Asset investment $ 2,900,000 Estimated annual sales $ 2,190,000 Costs $ 815,000 Tax rate 21% Project and asset life 3 Required return 12% Complete the following analysis. Do not hard code values in your calculations. Sales $ 2,190,000 Costs 815,000 966,667 Depreciation Sheet1 M + 100% A B G H I J Costs Tax rate 21% Project and asset life 3 Required return 12% Complete the following analysis. Do not hard code values in your calculations. Sales $ 2,190,000 Costs 815,000 Depreciation 966,667 EBT $ 408,333 Taxes 85,750 Net income $ 322,583 OCF $ 1,289,250 NPV Sheet1 D $ E 815,000 F