Winter Tyme, Inc., produces coats and jackets for the Seattle market. The company is considering a new 3-year expansion project into the Portland market. The expansion requires an initial investment of $2.16 million in new plant and equipment. These assets will be depreciated straight-line to zero over its 3-year tax life, after which time the assets can be sold for $168,000. The expansion also requires an initial investment in net working capital of $240,000, but this investment will be recovered at the end of the project's life. The project is estimated to generate $1,920,000 in annual sales, with costs of $768,000. The tax rate is 31 percent and the required return on the project is 10 percent. Required:

(a) What is the project's start-up cost, the year 0 cash flow from assets? Hint: this typically doesn't include OCF.

(b) What is the project's year 1 cash flow from assets?

(c) What is the project's year 2 cash flow from assets?

(d) What is the project's year 3 cash flow from assets?

(e) What is the NPV?