Construct a spreadsheet and calculate the following $($the required rate of

return is $12\%)$:

Payback period

Discounted payback period

Internal rate of return $($IRR$)$

Modified IRR

The discounting approach

The reinvestment approach

The combination approach

Net present value $($NPV$)$

Based on your analysis, should the company take the project? Why?

IMPORTANT: Use MS Excel functions $($PV$,$ FV$,$ NPV$,$ and IRR$)$ in your

spreadsheet.