Question: 6 . Cost - Benefit Analysis conduct a cost - benefit analysis using the payback method and the net present value method for a project

6. Cost-Benefit Analysis conduct a cost-benefit analysis using the payback method and the net present value method for a project that will require $10,000 in capital outlay, $30,000 in equipment, and $10,000 in training during the first year. Each subsequent year will incur an additional labor cost of $5,000 per year, reduce material costs by $15,000, and increase revenue by $20,000 per year. Assume NPV is discounted by 5%. Please include your formula for the payback method and an image of the Excel table you create for the net present value method.

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