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 $90,000 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 12%. The company has a tax rate of 21%. Year 3 105,600 Year 1 80,000 30,000 50,000 Year 2 88,000 30,000 58,000 30,000 75,600 Cost savings Depreciation EBIT Taxes (21%) Net Income Depreciation FCF B Attempt 1/3 for 10 pts. Part 1 What is the free cash flow in year 1? 0+ decimals Submit Part 2 8 - Attempt 1/3 for 10 pts What is the free cash flow in year 2? 0+ decimals IB Attempt 1/3 for 10 pts. Part 3 What is the free cash flow in year 3? 0+ decimals Submit IB Attempt 1/3 for 10 pts. Part 4 What is the NPV of this project? 0+ decimals Submit