ABC Corp. would like to evaluate a project with the following details: The project will require an initial (time t = 0) investment of $200,000 Revenues from the project will equal $200,000 each year for five years (time t = 1 through t = 5) Variable costs will equal 60% of revenues each year The project will result in an increase in net working capital right away (time t = 0) to $40,000 and this level of net working capital will be maintained till the end of the project. At that time (t = 5), the project ends and there is no net working capital required. Corporate tax rate equals 30% Prior to the start of the project, ABC had a cost of equity of 12%, a debt / equity ratio of 1.0, and a cost of debt of 6% The project will be partly funded using a loan of $300,000. This loan will require annual (from t = 1 through t = 5) payment of interest at a rate that equals ABC's cost of debt of 6% and will require repayment of the principal at the end of the project life of 5 years. Calculate NPV, NPVF, and APV, and therefore, state whether the project, if implemented will add value to ABC.