Problem 29 You have until 9:00 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 15%. The company has a tax rate of 21%. Year 1 Year 2 Year 3 Cost savings 40,000 44,000 52,800 Depreciation 30,000 30,000 30,000 EBIT 10,000 14,000 22,800 Taxes (21%) NOPAT Depreciation PCF Part 1 What is the project cash flow in year 1? 0+ decimals Save I Attempt 1/1