must be in formula format

A1 fo D E F G H I J 1 2 3 Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.9 million. The fixed asset will be depreciated on a three-year MACRS schedule. The project is estimated to generate $2,190,000 in annual sales, with costs of $815,000. The project requires an initial investment in net working capital of $300,000, and the fixed asset will have a market value of $210,000 at the end of the project. What is the project's Year O net cash flow? Year 17 Year 2? Year 3? The tax rate is 21 percent. If the required return is 12 percent, what is the project's NPV? 11 IS 6 Asset investment $ 2,900,000 7 Estimated annual sales $ 2,190,000 8 Costs $ 815,000 9 Net working capital $ 300,000 10 Pretax salvage value 210,000 Tax rate 21% 12 Project and asset life 3 13 Required return 12% 14 MACRS percentages Year 1 0.3333 16 Year 2 0.4445 17 Year 3 0.1481 18 19 20 Complete the following analysis. Do not hard code values in your calculations. You must use the built-in Excel function to calculate the NPV. 21 22 Sales 23 Costs 24 Depreciation ERT Sheet1 23 Al fi D F G H I 14 15 16 17 18 19 MACRS percentages Year 1 Year 2 Year 3 0.3333 0.4445 0.1481 20 Complete the following analysis. Do not hard code values in your calculations. You must use the built-in Excel function to calculate the NPV. 21 22 Sales 23 Costs 24 Depreciation 25 EBT 26 Taxes 27 Net income 28 29 Fixed asset book value 30 in three years 31 32 Aftertax salvage value 33 Sell equipment 34 Taxes 35 Aftertax cash flow 36 37 Capital spending 38 Net working capital 39 OCF 40 Net cash flow 41 42 NPV 43 Sheet1 *** READY -E