Please include the formula for each solution. Also please fill in your answers with how it is in the excel answer chart.

A furniture maker who manufactures desk chairs has an opportunity to begin making a new type of chair, which has additional features from the models they currently make. To manufacture the required parts for the new models, the company will need new machinery. Because of the risk level involved in taking on a new product, management is trying to determine whether the returns will justify the risk. Members of management are evaluating the project and have determined a 14% discount rate is appropriate for evaluation purposes. To aid management in their decision- making process, your supervisor has asked you to prepare an analysis of the project giving the following information 1) $12,000 and a 10-year useful life. Straight line depreciation will be used. 2) The projected revenues, costs, and results for each of the 10 years of this project are as follows: $306,000 Sales Less: Manufacturing costs Depreciation Shipping costs Administrative costs Income before income taxes Income tax expense Net income $192,000 35,200 15,000 16,500 258,700 47,300 18,920 $28,380 c) Compute the NPV using the discount rate of 14% and the PV Excel formula. You should list out your inputs in the provided spaces. Present value of cash inflows: Present value of cash outflows: Net present value Is this proposal acceptable using this discount rate? Respond Yes or No. d) Compute the NPV using the discount rate of 11% and the PV Excel formula where required. You should list out your inputs in the provided spaces. Present value of cash inflows: Present value of cash outflows: Net present value 1 Is this proposal acceptable using this discount rate? Respond Yes or No