Use the data below to answer all questions: Capital Expenditure @ t=0 (Depreciable basis): $535,000 Inventories will rise by $91,000. Payables will increase by $17,000. MACRS 3-year class property (depreciation rate for years 1-4: 33%, 45%, 15%, 7%) Economic life: 3 years (book value of the used asset will be > 0 when the project ends) Inflation = 4% Salvage value: $88,000 (You do not need apply inflation this number even though the CF is in t=3) Annual sales revenues: $485,000 (quoted in t=0 dollars, revenue is first counted in t=1. In other words, revenue in year 1 = $485,000 * (1 + inflation), increasing at the rate of inflation each year after) Operating costs: 56% of sales Tax rate = 35%, WACC = 11% Calculate the Acquisition Stage (aka t=0) OCF. Calculate the Acquisition Stage (aka t=0) FCF. Calculate OCF in Year 1. Calculate FCF in Year 1 Calculate OCF in Year 2. Calculate OCF in Year 3. Calculate Year 3 FCF. Calculate Project NPV. Please show all the calculation