See the below business project data. Note that k is an abbreviation for kilo which means thousands. So $50k is $50,000. Business Project Data Project life 10 years Initial investment in equipment 600k Annual depreciation of equipment See Note 4 Unit sales at end of each year 50k Sale price per unit $15 Variable cost per unit $10 Fixed costs per year, paid in arrears $100k Required return on assets (WACC before tax) 10% Tax rate 30% Note 1: Market research was undertaken last year at a cost of $50k to determine a suitable sales price per unit. Note 2: Initial (t=0) inventory investment of $50k is required. Inventories will be kept at that level for the life of the project. At the end of the project (t=10), all inventories will be sold. Note 3: The owner of the firm expects that this project will generate additional revenue for other departments in the firm of $50k per year. Note 4: The equipment is expected to last for 10 years. However, the Tax Office only specifies that the equipment should be depreciated straight line to zero over 12 years. Note 5: The equipment can be sold for scrap at t=10 for $50k. Note 6: For the purposes of capital gains tax, assume that the firm has other projects whose capital gains can be offset with any capital losses generated by this project. Note 7: The project will be funded entirely by equity. Question a: Find the projects Firm Free Cash Flow (FFCF) at time t=0. Question b: Find the projects Firm Free Cash Flow (FFCF) at time t=1. Note, this Firm Free Cash Flow will be received from time t=1 to t=9. Question c: Find the projects Firm Free Cash Flow (FFCF) at time t=10. Question d: Find the NPV of the project