Problem 11-12 Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the green cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. The cash flows for three independent projects are as follows: Given Data: O initial investment) 1 2 3 4 5 Project A ($50,000.00 $10,000.00 $15,000.00 $20,000.00 $25,000.00 $30,000.00 Project B ($100,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 $25,000.00 Project C ($450,000.00) $200,000.00 $200,000.00 $200,000.00 $0.00 $0.00 a. Calculate the IRR for each of the projects. Project A Project B Project C IRR b. If the discount rate for all three projects is 10 percent, which project or projects would you want to undertake? Project A Project B Project C Decision c. What is the NPV of each of the projects where the appropriate discount rate is 10 percent? 20 percent? Discount rate 10% Project A Project B Project C NPV Discount rate 20% Project A Project B Project C NPV