How do I complete this spreadsheet?

The CFO of GolfPro Center is considering purchasing an automated fairway weed control machine, but is uncertain as to whether it is a favorable expenditure decision. The CFO has asked you, the accounting manager, to evaluate the capital expenditure item and report the results. Since the cash flows don't occur in the same periods and because a dollar today is worth more than a dollar tomorrow, you will need to take into account the time value of money by using the net present value (NPV) approach and/or the internal rate of return (IRR) approach. The company estimated the equipment will last 5 years. Each year it will save the company $2000 in wasted spraying conditions. It will also reduce labor costs by $20,000 a year. It is estimated that the equipment will require $1,000 maintenance costs per year. The equipment costs $70,000 and it is expected to have a residual or salvage value of $5000 at the end of 5 years. Top management has determined the required rate of return is 12%. Should the company invest in the new equipment? Report results and decision determination to owner. 1 2 3 5 un Net Present Value Approach Time Period 0 Cash Flow Purchase Price Labor Savings Paint Savings Maintenance Residual Value Total Cash Flow PV Factor Total Cash Flow Required Rate of Return NPV IRR NPV Using Excel (show formula): IRR Using Excel (show formula)