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PART FIVE Long-Term Investment Decisions DSHEET EXERCISE The Drillago Company is involved in searching for locations in which to drill for oil s current project requires an initial investment of $15 million a estimated life of 10 years. The expected future cash inflows for the project appear in he firm' nd has an the following table. Year Cash inflows 1 s 600,000 1,000,000 3 1,000,000 2,000,000 3,000,000 3,500,000 4,000,000 6,000,000 8,000,000 10 12,000,000 The firm's current cost of capital is 13%. TO DO Create a spreadsheet to answer the following questions. a. Calculate the project's net present value (NPV). Is the project acceptable under b. Calculate the project's internal rate of return (IRR). Is the project acceptable c. In this case, did the two methods produce the same results? Generally, is there a d. Calculate the payback period for the project. If the firm usually acceps projects the NPV technique? Explain. under the IRR technique? Explain. preference between the NPV and IRR techniques? Explain. that have payback periods between 1 and 7 years, is this project acceptable