Only in excel. No hard coded formulas.

Compute the NPV and IRR of the project.

E F G H I J K L M N O P O C D SMART WALKING SHOES 12% 35% 2 3 Discount rate Corporate tax rate 5 Annual R&D, years 0-3 200,000 Machine 8 Year purchased 9 Cost 10 Life span 11 Depreciation, years 4-14 250,000 10 12 13 Expected annual sales 14 Price per pair of shoes 15 Annual fixed cost 16 Variable cost per shoes 5,000 150 300,000 50 17 18 19 Year 20 R&D 10 11 12 13 22 23 Shoe sales 24 Annual fixed cost 25 Annual variable cost 26 Depreciation 27 Profit before taxes 28 Taxes 29 Profit after taxes 30 Add back depreciation 31 Purchase machine 32 Free cash flow 33 34 NPV 35 IRR 36 37 38 E F G H I J K L M N O P O C D SMART WALKING SHOES 12% 35% 2 3 Discount rate Corporate tax rate 5 Annual R&D, years 0-3 200,000 Machine 8 Year purchased 9 Cost 10 Life span 11 Depreciation, years 4-14 250,000 10 12 13 Expected annual sales 14 Price per pair of shoes 15 Annual fixed cost 16 Variable cost per shoes 5,000 150 300,000 50 17 18 19 Year 20 R&D 10 11 12 13 22 23 Shoe sales 24 Annual fixed cost 25 Annual variable cost 26 Depreciation 27 Profit before taxes 28 Taxes 29 Profit after taxes 30 Add back depreciation 31 Purchase machine 32 Free cash flow 33 34 NPV 35 IRR 36 37 38