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The Smith & Warner Company is considering an expansion ofits production facilities which will permit the firm to build andsell a new line of cell phones. The project requires a $10,000,000capital investment and is expected to have a three-year economiclife.Other relevant information is :At the end of the project, the equipment can be sold for$300,000.The firm’s WACC is estimated at 8%.Incremental sales are projected to be $12,000,000 peryear.Annual costs(excluding depreciation) are estimated to be$3,000,000The project requires a $2,000,000 initial investment in netoperating working capital.The expected tax rate is 33%.The MACRS depreciation schedule in the list below will beused:Year 1 = 0.4445Year 2 = 0.3333Year 3 = 0.1481Year 4 = 0.0741Calculate and show the project cash flows for years 0 through3.