Consider the following alternative projects in the table below. Each project would last for five years.

1) Find the NPV for each project at a 10% discount rate.

2) Find the profitability index for each project at a 10% discount rate.

3) What discount rate would make the NPV=0 (i.e. breakeven in time) for each project?

Use excel to populate the table below. Show all cell references, show all formulas used, and show all calculations clearly.

Project A	Project B
Initial investment	$80,000	$60,000
Annual net cash inflows	20,000	16,000
$5,000 in maintenance	Year 2	Year 3
Salvage value	10,000	8,000