Can you help explain the following solution to this question?

Facebook is considering two proposals to overhaul its network infrastructure. They have received two bids. The first bid from Huawei will require a $20 million upfront investment and will generate $20 million in savings for Facebook each year for the next 3 years. The second bid from Cisco requires a $100 million upfront investment and will generate $60 million in savings each year for the next 3 years. Assume Facebook's cost of capital (discount rate) is 12%.

What is the IRR of the Huawei bid? (round to the nearest 10th of a percent)

What is the IRR of the Cisco bid? (round to the nearest 10th of a percent)

What is the NPV of the Huawei bid? (round to the nearest million)

What is the NPV of the Cisco bid? (round to the nearest million)

Which bid should Facebook accept?

Suppose Cisco modifies its bid by offering a lease contract instead. Under the terms of the lease, Facebook will pay $20 million upfront, and $35 million per year for the next 3 years. Facebook's savings will be the same as with Cisco's original bid.

What is Facebook's net cash flow under the lease contract at EOY 0? (round to the nearest million)

What is Facebook's net cash flow under the lease contract at EOYs 1-3? (round to the nearest million)

What is the IRR of Cisco's bid under the lease contract? (round to the nearest 10th of a percent)

Is this new bid a better deal for Facebook than Cisco's original bid?Why?