Please answer and show all work.

Raven Industries is considering launching a new product. The new manufacturing equipment will cost $17 million, and production and sales will require an initial S5 million investment in net operating working capital. The company's tax rate is 40%. What is the initial investment outlay The company spent and expensed $ 150,000 on research related to the new product last year. Would this change your answer Explain. Rather than build a new manufacturing facility, the company plans to install the equipment in a building it owns but is not now using. The building could be sold for $1.5 million after taxes and real estate commissions. How would this affect your answer The financial staff of Carrier Communications has identified the following information for the first year of the roll-out of its new proposed service: Projected Sales $18 million Operating costs (not including depreciation) $9 million Depreciation $4 million Interest expense $3 million The company faces 40% tax rate. What is the project's operating cash flow for the first year (t = l)