A B C E F G H I J Required rate of return 12% Assuming a six-year time horizon, what is the internal rate of return of the remodeling project? Calculate using both present value factors and separately using Excel's IRR function. Annual cash flow: Revenue Less costs: Other than depreciation Depreciation Income before takes Income tak expense Net income Add depreciation Cash flow Present value factor: factor Indicate how the Internal rate of return is calculated using the factor arrived at above. IRR function Cash Flows Investment 1 2 3 5 6 IRR Use the excel function in cell D43 Should the company invest in the remodel? Explain why or why not