C D E G H 1 A11 Y 2 Back to Index 3 Model 4 12/31/20203/31/2021 6/30/2021 9/30/2021 12/31/2021 3/31/2022 6/30/2022 9/30/2022 12/31/2022 ) 5 | -$975,000 6 Exp. Revenues $0 $300,000 $325,000 $330,000 $370,000 $400,000 $445,000 $435,000 $450,000 7 Exp. Expenses $0 $160,000 $185,000 $315,000 $245,000 $220,000 $200,000 $190,000 $185,000 8 Taxable $0 $140,000 $140,000 $15,000 $125,000 $180,000 $245,000 $245,000 $265,000 9 Taxes (35%) $0 $49,000 $49,000 $5,250 $ $43,750 $63,000 $85,750 $85,750 $92,750 10 TV $300,000 11 Net CFS $975,000 $91,000 $91,000 $9,750 $81,250 117,000 $159,250 $159,250 $472,250 12 Benchmark rate 13% 13 In order to calculate the net present value for this investment project, how should the NPV function be set up? Note 1: The benchmark rate is an annual rate Note 2: You may assume that 12/31/2020 corresponds to time 0 O ENPV(B12/4,C11:J11)+B11 O =NPV(B12/4,C11:J11,J10)+B11 O =(NPV(B12/4,B11:J11))*4 O=NPV(B12,C11:J11)+B11 O =(NPV(B12,C11:J11)+B11)*4