TABLE4 You are considering a new product launch: Equipment for the project will cost $875,000 The project will have a four-year life, and have no salvage value. Depreciation is straight-line to zero over the four years. The required return on the project is 11%, and the tax rate is 35%. Projected annual sales and cost figures are shown below (sales and costs are estimated to be identical for each year 14 Based on the information given, calculate OCF and NPV $875,000 Equipment cost Project length (years) Required return Tax rate 11% 35% Annual Sales Annual Variable costs Annual Fixed costs Annual Depreciation Annual EBIT Annual Taxes $3,948,000 $2,869,000 $345,000 $218,750 + Annual OCF Cash flows YEAR $553,662 PROJECT NPV 'you MUST use NPV function in excel