use this data sheet to solve the problem

. Lamm is undertaking a project with the following details provided. The project costs $2 million and has a five-year service life. It generates revenues of $600,000 annually. The project is classified under a 7-year property under the MACRS rule. At the end of the fifth year, any assets held for the project will be sold. The expected salvage value will be 15% of the initial $2M project cost. The firm will finance 30% of the project money from an outside source with an annual interest rate of 12%. The firm is required to repay the loan with five equal annual payments. The firm's tax rate is 21% MARR is 17% Given the information, o Determine the end of year cash flows for years 0 through 5 o Compute the Net Present Worth for this 5-year project 7 B 9 0 -1 -2 53 Year 0 Year 1 Year 2 Year 3 55 56 57 58 59 60 Year 4 I Year 5 9384 NPW 24 25 20 22 28 20 Income Statement and Cash Flow Statement 5 N 1 income statement taxe 31 32 33 Expenses OEM Labor Material Overhead Depreciation Debt interest 35 36 37 38 39 40 41 42 43 Taxable income Income taxes Net Income Cash Flow Statement 45 46 47 48 Operating activities Net income Depreciation investment activities Investment Salvage 50 51 52 53 54 56 56 57 5B 59 60 Borrowed funds Principal repayment Net Cash Flow