$2.$Formula in excel file and explain The Ocean City water park is considering the purchase of a new log flume ride. The cost to purchase the equipment is $$8,000,000,$ and it will cost an additional $$475,000$ to have it installed. The equipment has an expected life of $6$ years, and it will be depreciated using a MACRS $7-$year class life. Management expects to run about $150$ rides per day, with each ride averaging $35$ riders. The season will last for $120$ days per year. In the first year, the ticket price per rider is expected to be $$5\mathrm{.}25,$ and it will be increased by $4\%$ per year. The variable cost per rider will be $$1\mathrm{.}65,$ and total fixed costs will be $$525,000$ per year. After six years, the ride will be dismantled at a cost of $$245,000$ and the parts will be sold for $$600,000.$ Thecost of capital is $8\mathrm{.}5\%,$ and its marginal tax rate is $25\%.$ a$.$ Calculate the initial outlay, annual after$-$tax cash flow for each year, and theterminal cash flow. b$.$ Calculate the NPV$,$ IRR, and MIRR of the new equipment. Is the projectacceptable? c$.$ Create a Data Table that shows the NPV$,$ IRR, and MIRR for MACRS classes of $3,5,7,10,15,$ and $20$ years. What do you conclude about the speed of depre$-$ciation and the profitability of an investment? d$.$ Using Goal Seek, calculate the minimum ticket price that must be charged inthe first year in order to make the project acceptable.