Question: Please answer question using formulas and not excel. Thank you for your help! Down Under Boomerang, Inc., is considering a new three-year expansion project that

 Please answer question using formulas and not excel. Thank you for

Please answer question using formulas and not excel. Thank you for your help!

Down Under Boomerang, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2.88 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless The project is estimated to generate $2,140,000 in annual sales, with costs of $835,000. The tax rate is 35 percent and the required return is 10 percent. What is the project's NPV? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV

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