3.-(45-min)A preliminary design study has just been completed with the following: economic parameter: Fixed capital investment: $24,000,000 Working capital: $4,000,000 1 Production rate at full capacity: 1,000,000 kg/year Selling price of the product: $20/kg 1 Total fixed production costs (except for depreciation): $1,000,000/year 1 Total variable production cost: $5,000,000-year- Plant overhead costs: $1,000,000/year Administrative expenses: $1,200,000/year General expenses: $1,500,000/year 1 Service-life of the plant is estimated as 5-years Minimum acceptable rate of return-is-15% Income tax rate: -35% Straight-line method is used for depreciation. Assume that all-cash-flows occurs discretely at the end of each year, and discrete compounding interest is: considered. I 1 a. Calculate-the-net-present-worth-(NPW)-of-the-project,-is-it-acceptable?-- (30.P)1 b.. Calculate the payback period, -is-it-acceptable?.-(20.P)1