A projects initial cost will be $1.8 mil. SL depreciation over 4-year project life with a pre-tax salvage of $450,000. Year 1 sales are expected to be $2.1 mil, growing 10% each year after. VCs will be 60% of annual sales. FCs will be $160,000 per year. The one-time initial NWC is $400,000. If the required rate of return is 10%, and the tax rate is 21%. [Note: After-tax salvage = before-tax salvage x (1- tax rate)]. 4. What is the NPV, IRR, PB, & DPB? 5. What is the average annual % change of FCs that will yield zero NPV, holding others constant? PLEASE USE EXCEL WITH FORMULA