please solve it on an excel sheet and try to solve with using excel formulas when appropriate and also use FORMULATEXT to show the formula used in the excel sheet.

solve both question to get like

Question 1: Project with an initial cash outlay of $20,000 with following free cash flows for 5 years.

Year Cash flows

1 $8,000

2 4,000

3 3,000

4 5,000

5 10,000

1) How much is the payback period (approach one)? ---- 4 years

2) If the firm has a 10% required rate of return. How much is NPV (approach 2)?-- $2456.74

3) If the firm has a 10% required rate of return. How much is IRR (approach 3)? ---- 14.55%

4) If the firm has a 10% required rate of return. How much is PI (approach 4)? ---- 1.12

Question 2: Project with an initial cash outlay of $60,000 with following free cash flows for 5 years.

Year FCF

Initial outlay 60,000

1 25,000

2 24,000

3 13,000

4 12,000

5 11,000

The firm has a 15% required rate of return.

A Calculate payback period,

B calculate NPV,

C calculate IRR

D. calculate PI.

E. Analyze your results.