please post work using excel formulas

54 Q5. A project has an initial cost of $7,400. The cash inflows are $950, $2,300, $3,400 and $4,000 over the next four years, respectively. What is the payback period? 55 MAN: For even cash flows accumulate the cash flows for full years the determine the remaining amount needed to achieve the initial investment for the final year. Tue the cash flows from the final year and divide by 12 then add back each month you at the full investment 56 State the number of months as a decimal Initial investment 7,400 Come 50 Year 1 950 Year 2 2,300 Year 3 3,400 50 Year monthly Cash 61 4 4,000 54 Full years Payback Calculation years Final Year amt needed months 66 Q6. Professional Decorators is considering a project with the following cash flows. What is the IRR of this project? (Hint: Use IRR formula in excel) 67 - Year TO TI Cash flow 0 (115,421.00) 1 37,200.00 2 52,300.00 3 49.100.00 IRR 72 14 77 Q7. An Investment has the following cash flows and a required return of 12 percent. Based on IRR, should this project be accepted? Why or why not? 00 Year 52 Cash flow (49,000.00) 17.280.00 31,000.00 8,400.00 0 1 2 3 IRR M ES Should this project be accepted? Why or why not