Please solve the two part question below. Please show your work using EXCEL SPREADSHEET.

A. David, an investor who likes to invest in startup companies, indicates that his requirement is that he expects to get a return of 10 times his original investment in five years. (That is, if you invest $1 today, then you expect to have $10 at the end of 5 years.) Using annual compounding, what annual required rate of return is this equivalent to? Show your work using EXCEL SPREADSHEET.

B. TT&Y, LLC is a startup developing a new product. It has no revenue today and expects it first sales to begin in three years.

The forecast of annual cash flows is:

Year 1 through 3 -100,000 (this is a negative number)

Year 4 -50,000

Year 5 100,000 (this is a positive number)

Year 6 500,000

Year 7 1,500,000

The cash flow is expected to grow by 100% per year in years 8 through 10, then grow by 50% per year in years 11 through 14, and then by 4% per year thereafter.

Using the required rate of return for David from part A., value TT&Y. Show your work using EXCEL SPREADSHEET.