Baker Industries is considering a project that requires an initial investment of $$3,570,000$ into PP&E depreciated straight line over a six$-$year useful life. At the end of six years, salvage value is forecasted at $$415,000.$ In addition, initial inventory is expected to rise by $$680,000$ partially funded with trade credit of $$272,000.$ Assume working capital is recovered at the end of the project. Sales revenue in year one is forecasted at $$1,5800,000$ and is expected to grow at $15\%$ in year two, $10\%$ year three, and $8\%$ in year four. Growth slows to $3\%$ in years five and six. Operating expenses are divided between COGS at $40\%$ of sales and fixed costs at a stable level of $$300,000$ per year. The tax rate of Baker is $22\%$ and cost of capital $($WACC$)$ is $10\%.$

a$.$ What are the project's cash flows years $0-6?(5$ points$)$

b$.$ Calculate the NPV$,$ IRR and MIRR. $(3$ points$)$

c$.$ Would you recommend going ahead with the project? Why or why not? $(1$ point$)$

d$.$ Redo the investment decision assuming the company can take advantage of $100\%$ bonus depreciation. Does this change your decision? Explain. $(3$ points$)$ Answer in an excel