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10.7 a. (4 points) Noname, Inc. is considering a new four-year expansion project that requires an initial fixed asset investment of $2.2 million. The fixed asset will be depreciated straight-line to $200,000 over its four-year tax life. The project is estimated to generate $2,000,000 in annual sales, with costs of $900,000. If the tax rate is 35 percent, what is the OCF for this project? b. (2 points) If the fixed asset can be sold for $450,000 at the end of the project, what is the after tax salvage value of the fixed asset? c. (4 points) Now, suppose the project requires an initial investment in net working capital of $25,000. Assuming that working capital will revert back to normal at the end of the project, and that the firm's WACC for projects of this risk is 10%, what is the NPV? 10.7 a. (4 points) Noname, Inc. is considering a new four-year expansion project that requires an initial fixed asset investment of $2.2 million. The fixed asset will be depreciated straight-line to $200,000 over its four-year tax life. The project is estimated to generate $2,000,000 in annual sales, with costs of $900,000. If the tax rate is 35 percent, what is the OCF for this project? b. (2 points) If the fixed asset can be sold for $450,000 at the end of the project, what is the after tax salvage value of the fixed asset? c. (4 points) Now, suppose the project requires an initial investment in net working capital of $25,000. Assuming that working capital will revert back to normal at the end of the project, and that the firm's WACC for projects of this risk is 10%, what is the NPV