$1.$ A $10-$year steel pipe$-$producing project requires $$96$ million in upfront investment $($all in depreciable assets$),$ $$38$ million of which is borrowed capital at an interest rate of $6\mathrm{.}80\%$ per year. The expected pipe sales are $2,560,000$ pipes per year. The expected price per pipe is $$250$ and the variable cost is $$206$ per unit. The fixed costs excluding depreciation are expected to be $$35$ million per year for ten years. The upfront investment will be depreciated on a straight$-$line basis for the $10-$year life of the project to $$12$ million book value. The expected salvage value of the assets is $$16$ million. The tax rate is $25\%$ and the RRR applicable to the project is $15\%.$

a$.$ Calculate the accounting and cash break$-$even points.

b$.$ Calculate the DOL, DFL$,$ and DCL $($Do not use the equations and do your own change in sales$).$

c$.$ Calculate the NPV breakeven annual free cash flow for the project.

d$.$ Calculate the NPV break$-$even point $($Qb$).$