1) Fairfax Pizza is evaluating a project that would require an initial investment in equipment of 600,000 dollars and that is expected to last for 9 years. MACRS depreciation would be used where the depreciation rates in years 1, 2, 3, and 4 are 41 percent, 34 percent, 18 percent, and 7 percent, respectively. For each year of the project, Fairfax Pizza expects relevant, incremental annual revenue associated with the project to be 888,000 dollars and relevant, incremental annual costs associated with the project to be 786,000 dollars. The tax rate is 50 percent. What is (X plus Y) if X is the relevant operating cash flow (OCF) associated with the project expected in year 1 of the project and Y is the relevant OCF associated with the project expected in year 4 of the project?

2 ) Yellow Sand Food is evaluating the laundromat project, a 2-year project that would involve buying equipment for 40,000 dollars that would be depreciated to zero over 2 years using straight-line depreciation. Cash flows from capital spending would be $0 in year 1 and 18,000 dollars in year 2. Relevant annual revenues are expected to be 111,000 dollars in year 1 and 111,000 dollars in year 2. Relevant expected annual variable costs from the project are expected to be 10,000 dollars in year 1 and 10,000 dollars in year 2. Finally, the firm has no fixed costs in year 1 and one fixed cost in year 2 of the project. Yesterday, Yellow Sand Food signed a deal with Orange Valley Consulting to develop an advertising campaign. The terms of the deal require Yellow Sand Food to pay Orange Valley Consulting either 81,000 dollars in 2 years from today if the laundromat project is pursued or 65,000 dollars in 2 years from today if the laundromat project is not pursued. The tax rate is 40 percent and the cost of capital for the laundromat project is 16.02 percent. What is the net present value of the laundromat project?

3) Green Forest Packaging is considering a project that would last for 2 years and have a cost of capital of 13.47 percent. The relevant level of net working capital for the project is expected to be 16,000 dollars immediately (at year 0); 26,000 dollars in 1 year; and 0 dollars in 2 years. Relevant expected revenue, costs, depreciation, and cash flows from capital spending in years 0, 1, and 2 are presented in the following table (in dollars). The tax rate is 50 percent. What is the net present value of this project?

Year 0	Year 1	Year 2
Revenue	$0	206,000	206,000
Costs	$0	76,000	76,000
Depreciation	$0	46,000	46,000
Cash flows from capital spending	-99,000	0	15,000

4) Fairfax Pizza is considering buying a new oven. The new oven would be purchased today for 16,200 dollars. It would be depreciated straight-line to 1,200 dollars over 2 years. In 2 years, the oven would be sold for an after-tax cash flow of 2,600 dollars. Without the new oven, costs are expected to be 14,300 dollars in 1 year and 19,600 in 2 years. With the new oven, costs are expected to be 4,400 dollars in 1 year and 15,900 in 2 years. If the tax rate is 50 percent and the cost of capital is 5.03 percent, what is the net present value of the new oven project?

PLEASE HELP !