20. Project analysis (S6.3) Go to the Excel spreadsheet versions of Table 6.3 and answer the following questions.

a. New engineering estimates raise the possibility that capital investment will be more than

$12 million, perhaps as much as $15 million. On the other hand, you believe that the 20%

cost of capital is unrealistically high and that the true cost of capital is about 11%. Is the project still attractive under these alternative assumptions?