2. CFA Inc., is considering an expansion project that requires an initial fixed asset investment of $5.1 million. The fixed asset will be depreciated straight-line to zero over its three-year life, after which time it will be worthless. The project also requires an initial investment in net working capital (NWC) of $220,000. The project is estimated to generate $4,000,000 in annual sales, with costs of $1,500,000. Suppose the tax rate is 30 percent and the required return is 14 percent. a. (11 marks) Determine the cash flows in the table. Year 0 Operating cash flow Change in NWC Net capital spending Total project cash flow Year 1 Year 2 Year 3 b. (4 marks) What is the project's NPV? Should the expansion project be accepted? Explain