Problem 29 You have until 12:01 PM to complete this assignment. Intro The local franchise of Jiffy Lube is thinking of buying a new lift for $40,000 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 11%. The company has a tax rate of 21% Year 2 Year 1 100,000 13,333 86,667 110,000 13,333 96,667 Year 3 132.000 13,333 118,667 Cost savings Depreciation EBIT Taxes (21%) Net income Depreciation FCF Type here to search o RI . All Esc Ft Y c F2 F3 F4 F5 F6 FT Part 1 Attempt 1/1 for 10 pts. What is the free cash flow in year 1? 0+ decimals Submit - Attempt 1/1 for 10 pts. Part 2 What is the free cash flow in year 2? 0+ decimals Submit Attempt 1/1 for 10 pts. Part 3 What is the free cash flow in year 3? 0+ decimals Submit Attempt 1/1 for 10 pts. Part 4 What is the NPV of this project? 0+ decimals Submit Type here to search O III - F3 F5