points Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.9 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 $2,190,000 in annual sales, with costs of $815,000. The tax rate is 21 percent. If the required return is 12 percent, what is the project's NPV? BOOK 4 5 6 7 $ S $ Asset investment Estimated annual sales Costs Tax rate Project and asset life Required return 2,900,000 2,190,000 815,000 219 9 10 11 12 12 12% Complete the following analysis. Do not hard code values in your calculations. 15 16 17 111 TO 20 Sales Costs Depreciation EBT Taxes Sheet READY 100%