Mini Case Study 2 John is considering engaging in part-time work as an Uber driver, but he requires an initial investment in a vehicle. Following thorough market research, he has identified two potential options: Choice A: Purchase a pre-owned 2000 Ford car valued at $3000. The intended usage is for 10 months. John anticipates a monthly net income of $700 after paying fuel costs. The discount rate is projected 5.5% per month due to depreciation and inflation. Choice B: Acquire a new electric bicycle for $2080. However, this alternative may result in reduced delivery speed. John also intends to use the bicycle for 10 months and anticipates a monthly net income of $500. The discount rate is projected 5% per month due to depreciation and inflation. Questions: 1. Determine the Net Present Value (NPV) and Internal Rate of Return (IRR) for both options using an Excel spreadsheet. Must leave 2 digits after decimal. 2. Based on the calculations, select the preferred option for Jason and provide reasoning for the choice. 3. Assess whether the two options are independent projects or mutually exclusive projects. Identify any potential conflicts between NPV and IRR and determine the more reliable evaluation method. Include references where appropriate. 4. John will deposit what he has earned after 10 months (the earning before discount) to Scotia Bank's GIC. Use the conclusion in Q2, how much will he receive from the GIC for 24 months? Must use most recent Scotia Bank's GIC interest. Assume the GIC rate reains unchanged after 10 months Submission Requirements: Submit an Excel file containing: Worksheet 1: Your personal information (name and student ID). Worksheet 2: NPV and IRR calculations utilizing Excel functions (addressing question 1). Write the explanation of the rationale behind option selection (question 2) and an analysis of project independence/exclusivity and NPV-IRR conflicts (question 3). Include references as needed. Worksheet 3: Calculate the GIC total amount with your conclusion in Q2