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ATT is considering a project. The project requires to purchasean equipment with a cost of $1.55 million. The equipment will bedepreciated straight-line to a zero book value over the 9-year lifeof the project. At the end of the project it will be sold for amarket value of $240,000. The project will not change sales butwill reduce operating costs by $399,000 per year. The project alsorequires an initial investment of $52,000 in net working capital,which will be recouped when the project ends. The tax rate is 34percent.(1) What is the cash flow of the project in year 0 (or at thebeginning of the project)?(2) What is the cash flow of the project in each year from year1to year 8?(3) What is the cash flow of the project in year 9 (or theending year)? [hint: there are 3 cash flow items, for exampleafter-tax salvage value](4) What is the project's NPV if the required return is 11.5percent? [hint: the answer for NPV value is one of the followingchoices:] A. $215,433 B. $276,945 C. $268,011 D. $225,225 E.$257,703