a. Complete the table below, solving for the project's net cash flows over its five-year estimated life.
				0	1	2	3	4	5
	Equipment cost		-$36,000,000
	Net revenues			$9,000,000	$9,252,000	$9,511,056	$9,777,366	$10,051,132
	Less:	Maintenance costs		-$200,000	-$205,600	-$211,357	-$217,275	$223,358
		Utilities costs		-$100,000	-$102,800	-$105,678	-$108,637	-$111,679
		Supplies			-$250,000	-$257,000	-$264,196	-$271,593	-$279,198
		Depreciation		-$7,200,000	-$11,520,000	-$6,840,000	-$4,320,000	-$3,960,000
	Operating income			$1,250,000	-$2,833,400	$2,089,825	$4,859,860	$5,476,896
	Taxes				$264,375	-$599,264	$441,998	$1,027,860	$1,158,363
	Net operating income			$985,625	-$2,234,136	$1,647,827	$3,832,000	$4,318,532
	Depreciation			$7,200,000	$11,520,000	$6,840,000	$4,320,000	$3,960,000
	Plus: After-tax equipment salvage value*						$3,610,840
	Net cash flow		-$36,000,000	$8,185,625	$9,285,864	$8,487,827	$8,152,000	$11,889,372
b. What are the project's NPV and IRR? (Assume that the project has average risk.)
	The Project NPV is	-35082.42
	The Project IRR is	8.36%

1.How was the After tax equipment salvage value calculated?

2. Can you please explain how the NPV was gotten and the rate applied?