Problem 29 You have until 10:08 PM to complete this assignment. Intro The local franchise of Jiffy Lube is thinking of buying a new lift for $70,000 that would make it easier to access the oil filter in customers' cars and save labor. The savings would increase over the project's 3-year life, in line with the projected growth of the business. The machine is to be linearly depreciated to zero and will have no resale value after 3 years. The appropriate cost of capital for this project is 13%. The company has a tax rate of 21% Year 1 Year 3 118,800 90,000 23,333 66,667 Year 2 99.000 23,333 75,667 23,333 95,467 Cost savings Depreciation | EBIT Taxes (21%) Net income Depreciation FCF | Attempt 1/1 for 10 pts. Part 1 What is the free cash flow in year 1? 0+ decimals Save - Attempt 1/1 for 10 pts. Part 2 What is the free cash flow in year 2? 0+ decimals Save - Attempt 1/1 for 10 pts. Part 3 What is the free cash flow in year 3? 3 0+ decimals Save | Attempt 1/1 for 10 pts. Part 4 What is the NPV of this project? 0+ decimals Save