I need help checking my answer with this question see attach excel sheet.

Excel Assignment (THIS IS AN INDIVIDUAL ASSIGNMENT, SO PLEASE TURN IN YOUR OWN WORK USING YOUR OWN WORDING, ETC.) ABC Manufacturing expects to sell 1,025 units of product in 2017 at an average price of $100,000 each based on current demand. The Chief Marketing Officer forecasts growth of 50 units per year through 2021. So, the demand will be 1,025 units in 2017, 1,075 units in 2018, etc. However, ABC cannot produce more that 1,000 units annually based on current capacity. In order to meet demand, ABC must either update the current plant or replace it. If the plant is replaced, an initial working capital investment of $7,000,000 is required and these funds will be released at the end of the investment life to be used elsewhere. The following table summarizes the projected data for both options: Initial investment in 2017 Terminal salvage value in 2021 Working capital investment required Useful life Total annual cash operating costs per unit $ $ $ $ Update 110,000,000 10,000,000 5 years 65,000 $ $ $ $ Replace 150,000,000 7,000,000 5 years 52,000 The investment will be made at the beginning of 2017 and all transactions after that are assumed to occur on the last day of each year. ABC's required rate of return is 14%. Required: [Please refer to the two Excel video lectures posted on Blackboard for Ch. 13 when setting up your spreadsheet. You may set up your spreadsheet using this file (on a separate Excel worksheet) to address requirement #1 and #2 and answer question #3 directly on the spreadsheet.] 1. Using Excel functions and formulas, calculate the net present value of the update and replace alternatives. 2. Using Excel functions and formulas, calculate the internal rate of return for both the update and replace alternatives. 3. Based on the results, which option should ABC choose? Specifically explain why