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Question: a project requires the intial fixed capital outlay of 120000...

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A project requires the intial fixed capital outlay of $120,000 and net working capital of $40,000 before it starts. The project manager forecasts that the annual sales would be $410,000 until the project ends in the next five years. The annual cash operating expense is $280,000. The fixed assets should depreciate based on straight-line method to no salvage value. At the end of the project, the fixed assets can be sold at $5,000. With the tax rate of 30%, what is project NPV?

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