Question $11(5$ points$)$

Micky Frozen Inc., has a four year project. It requires an initial investment of $$2,538,000$ in a fixed asset. The asset will be depreciated straight$-$line to zero over four years and will be worthless at year four. The expected annual sales and costs are $$2,256,000$ and $$902,400,$ respectively.

The project's operating cash flow is $$ assume a tax rate of $25\%.$

$$ $$1,232,516$

$$539,325$

$$1,173,825$

$$1,115,134$

$$1,353,600$