21st Century is considering another project, Project Y. Project Y has an up-front after-tax cost of $200,000 and an economic life of 3 years. If the company develops the project, its after-tax operating costs will be $100,000 a year; however, the project is expected to produce after-tax cash inflows of $180,000 a year. Thus, the project's estimated after- tax cash flows are as follows: Estimated After-Tax After-Tax Project Cash Outflows Cash After-Tax Inflows Cash Flows Year 1 0 ($200,000) $0 ($200,000) 2 1 (100,000) 180,000 $80,000 3 2 (100,000) 180,000 $80,000 4 3 (100,000) 180,000 $80,000 75 76 (1) The project has an estimated WACC of 10%. What is the project's NPV? 77 78 WACC = 79 80 NPVY 11 10%