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Please show solution and explanation using excel. Thank you

Cardinal Company is considering a five-year project that would require a $2,812,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 16%. The project would provide net operating income in each of five years as follows:
Sales		2,855,000
Variable expenses		1,010,000
Contribution margin		1,845,000
Fixed expenses:
Advertising, salaries, and other out-of-pocket costs	798,000
Depreciation	562,400
Total fixed expenses		1,360,400
Net operating income		484,600
Which item(s) in the income statement shown above will not affect cash flows? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply Sales Variable expensesunanswered Advertising, salaries, and other fixed out-of-pocket costs expensesunanswered Depreciation expense
2-a. What are the project's annual net cash inflows?
2-b. What is the present value of the project's annual net cash inflows? (Round discount factor to 5 decimal places)
What is the project's net present value? (Round discount factor(s) to 3 decimal places and final answer to the nearest whole dollar amount.)
What is the project profitability index for this project? (Round discount factor(s) to 3 decimal places and final answer to 2 decimal places.)
What is the project's internal rate of return? (Round your answer to nearest whole percent.)
What is the project's payback period? (Round your answer to 2 decimal places.)
What is the project's simple rate of return for each of the five years? (Round your answer to 2 decimal places. i.e. 0.12342 should be considered as 12.34%.)
If the company's discount rate was 18% instead of 16%, would you expect the project's net present value to be higher, lower, or the same? multiple choice Higher Lower Same
If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's payback period to be higher, lower, or the same? multiple choice Higher Lower Same
If the equipment had a salvage value of $300,000 at the end of five years, would you expect the project's net present value to be higher, lower, or the same? multiple choice Higher Lower Same
Internal rate of return = 25.053% Step-by-step explanation Annual cash flow = net operating income + depreciation Annual cash flow = $ 509,000 + $ 591,000 = $ 1,100,000 The initial investment = $ 2,955,000 Discount rate = 16% This is therefore a regular annuity. Using a financial calculator, the IRR of this project = 25.053% At 25.053%, the present value of the future cash flows should equal $ 2,955,000 because at this rate the NPV is zero. By discounting the cash flows at 25.053%, NPV = 0 25.053% is therefore the Internal rate of return(IRR)