$(2)$

Down Under Boomerang, Inc., is considering a new three$-$year expansion project that requires an initial fixed asset investment of $$2\mathrm{.}58$ million. The fixed asset falls into the three$-$year MACRS class. The project is estimated to generate $$2,040,000$ in annual sales, with costs of $$743,000.$ The project requires an initial investment in net working copital of $$260,000,$ and the fixed asset will have a market value of $$280,000$ at the end of the project.

a$.$ If the tax rate is $24$ percent, what is the project's Year $1$ net cash flow? Year $2?$ Year $3?$ Table $8\mathrm{.}3.($A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers in dollars, not miltions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.)$

b$.$ If the required return is $15$ percent, what is the project's NPV$?($Enter your answer in dollars, not millions of dollars. Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.)$

Answer is complete but not entirely correct.

$\backslash$table$[[$a$.,$ Year $0$ cash

flow $,5,-2,840,000\mathrm{.}00$