Please Explain and Show the Formulas

- Open a blank Excel workbook (i.e., do not use class exercise template) to perform your calculations. As I said in class, keep a data-entry section and calculation cells separated. - Click "Homework Assignments Ch _" and upload your completed Excel file. No submission will be accepted beyond the deadline. - Your Excel file needs to be named to reflect your name and the assignment number. For example, I may name my file for Assignment \#1 "nishi_hiro_A1." - Format your answers to two decimal places. In each question, highlight the cell of the you answer in yellow (e.g., $812.51,12.35% ). - Solutions will not be presented during the semester. Instead, we will go over some of the key problems in the exam review session(s). Question 2 Egmont Corporation is considering the following project. Assume that the corporate tax rate is 21% and the firm's discount rate is 10%. - Duration of the project: 7 years - Initial investment: $700,000 - Price per unit: $1,100.00 - Variable cost per unit: $628.00 - Annual fixed costs: $150,000 What is the financial break-even point of the project? ( 3 points)