Help me with this assignment please! Kindly noted the fomula you used and explain as detailed as possible! Pleas do not use excel!! Many thanks!!!!

GROUP ASSIGNMENT \#2 FOR SESSION 5 - MAKING CAPITAL INVESTMENT DECISIONS Company Y intends to launch a new project with the following information: - The project requires an initial investment in fixed-assets of $6,000,000. - This investment will be depreciated straight-line over five years to a value of zero. - When the project comes to an end at the end of five years, the equipment will be sold for $500,000. - The firm believes that working capital at each date must be maintained at 10% of next year's forecasted sales starting immediately. - Production costs are estimated at 25% of revenues. - Sales forecasts (in \$) are given in the following table: - The tax rate is 25% and the discount rate of the project is 12%. Calculate the NPV of the project