2. The company is considering a project involving the purchase of new equipment. Change the data area of your worksheet to match the following: Use Exhibit 148-1 and Exhibit 148-2. (Use appropriate factor(s) from the tables provided.) A 1 Chapter 14: Applying Excel B C 2 3 Data 4 Example E 5 Cost of equipment needed $ 440,000 6 Working capital needed $ 55,000 7 Overhaul of equipment in four years $ 35,000 8 Salvage value of the equipment in five years $ 35,000 9 Annual revenues and costs: 10 Sales revenues $ 435,000 11 Cost of goods sold $ 270,000 12 Out-of-pocket operating costs $ 50,000 13 Discount rate 10 % a. What is the net present value of the project? (Negative amount should be indicated by a minus sign. Round your present value factor to 3 decimals and round all other intermediate calculations to nearest whole dollar.) b. If the net present value is (negative), would the company pursue this project? no c. Using your Excel spreadsheet, adjust the discount rate in the data assumption area until the calculated Net present value is close to zero. The internal rate of return (IRR) is the discount rate needed for the present value of cash outflows to equal the present value of cash inflows. Our excel spreadsheet is not sophisticated enough to determine the exact discount rate. Therefore, enter your IRR answer as between two whole number discount rates (e.g., between 10% and 11%, between 13% and 14%, etc.)? The internal rate of return is between % and %