Please write the formulas in excel.

Ruler Formula Bar QE FD Gridlines Headings Normal Page Break Page Custom Preview Layout Views Workbook Views Zoom 100% Zoom to Selection Window Macros Show Zoom Macros A1 fx AE D F F H 1 2 P 3 Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.9 million. The fixed asset will be depreciated on a three-year MACRS schedule. The project is estimated to generate $2,190,000 in annual sales, with costs of $815,000. The project requires an initial investment in net working capital of $300,000, and the fixed asset will have a market value of $210,000 at the end of the project. What is the project's Year 0 net cash flow? Year 1? Year 2 Year 3? The tax rate is 21 percent. If the required return is 12 percent, what is the project's NPV? 4 5 6 7 8 9 A A A Asset investment $ Estimated annual sales $ Costs $ Net working capital $ Pretax salvage value $ Tax rate Project and asset life Required return MACRS percentages Year 1 2,900,000 2,190,000 815,000 300,000 210,000 21% 3 12% 10 11 12 13 14 15 0.3333 Gridlines Headings Zoom 100% Zoom to Window Macros Selection Normal Page Break Page Custom Preview Layout Views Workbook Views Show Zoom Macros A1 V : fx AF D E F G H 16 Year 2 Year 3 0.4445 0.1481 17 18 19 20 Complete the following analysis. Do not hard code values in your calculations. You must use the built-in Excel function to calculate the NPV. 21 22 Sales $ 2,190,000.00 $ 2,190,000.00 $ 2,190,000.00 23 Costs 815,000.00 815,000.00 815,000.00 24 Depreciation 966,570.00 1,289,050.00 429,490.01 25 EBT $ 408,430.00 $ 85,950.00 $ 945,510.00 26 Taxes 85,770.30 18,049.50 198,557.11 27 Net income $ 322,659.70 $ 67,900.50 $ 746,952.90 28 29 Fixed asset book value 30 in three years 31 32 33 Aftertax salvage value Sell equipment Taxes Aftertax cash flow 34 35 36 Selection Preview Layout Views Workbook Views Show Zoom Macros A1 V X fx AE D E F G H 31 32 33 Aftertax salvage value Sell equipment Taxes Aftertax cash flow 34 35 36 37 38 Capital spending Net working capital OCF Net cash flow 39 40 41 42 NPV 43 44 45 46