Now, evaluate Project Griffin using the WACC=8.75%. The project is expected to have a 5-year life. *Investment & Depreciation: Initial Capital Expenditure (CapEx): $7,500,000 at Year 0. Depreciation Method: Straight-line over 5 years to a book value of zero. Salvage Value: The equipment is expected to be sold for $1,000,000 at the end of Year 5.*Revenue & Costs: Sales Forecast (Units): Year 1: 50,000 Year 2: 55,000 Year 3: 60,000 Year 4: 50,000 Year 5: 40,000 Price per Unit: $70.00. Variable Cost per Unit: $28.00. Fixed Costs (SG&A): $400,000 per year. *Working Capital & Tax: Net Working Capital (NWC): The project requires an investment in NWC at the beginning of each year equal to 15% of that year's sales. The initial investment at Year 0 is based on Year 1 sales, and the full amount of invested NWC is recovered at the end of the project. Corporate Tax Rate: 35%.**Questions:**1. Create a pro-forma forecast of the incremental free cash flows (FCF) for Project Griffin for Years 0 through 5.2. Using the WACC calculated in Part 1, determine the Net Present Value (NPV) of the project. 3. Calculate the project's Internal Rate of Return (IRR) and its Payback Period. 4. Based on your analysis, should Ares Manufacturing proceed with Project Griffin? Justify your decision. 5. Regardless of your initial NPV finding, management wants to understand the project's sensitivity to key assumptions. Identify two critical variables in your forecast (e.g., price, unit sales, variable cost). For each, calculate the break-even value that would make the project's NPV exactly zero. Discuss the business feasibility of achieving these break-even values.