A company is considering two mutually exclusive expansion plans. Plan A requires a $40 million expenditure on a large-scale integrated plant that would provide expected cash flows of $6.39 million per year for 20 years. Plan B requires a $11 million expenditure to build a somewhat less efficient, more labor-intensive plant with an expected cash flow of $2.47 million per year for 20 years. The firm's WACC is 10%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. ppen spreadsheet a. Calculate each project's NPV. Round your answers to two decimal places. Do not round your intermediate calculations. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Plan A: $ million Plan B : $ million Calculate each project's IRR. Round your answer to two decimal places. Plan A: % Plan B : % b. By graphing the NPV profiles for Plan A and Plan B, approximate the crossover rate to the nearest percent. % C. Calculate the crossover rate where the two projects' NPVs are equal. Round your answer to two decimal places. % WACC 10.00% 4 (Dollars in Millions) Plan A 0 $40.00 1 $6.39 2 $6.39 5 $6.39 6 $6.39 7 $6.39 8 $6.39 9 $6.39 10 $6.39 11 $6.39 12 $6.39 13 $6.39 14 $6.39 15 $6.39 16 $6.39 17 $6.39 18 $6.39 19 $6.39 20 $6.39 $6.39 $6.39 Plan B $11.00 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 Project NPV Calculations: NPVA NPV: Formulas #N/A #N/A Project IRR Calculations: IRRA IRRE #N/A #N/A NPV Profiles: Discount Rates 0% 5% 10% 15% 20% 22% 25% NPVA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 NPVA $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 IV R VV 30 31 $1.00 32 $0.90 33 $0.80 34 $0.70 35 $0.60 36 $0.50 37 38 $0.40 39 $0.30 40 $0.20 41 $0.10 42 $0.00 43 0% 5% 44 45 Calculation of Crossover Rate: 46 47 Plan A 48 49 Plan B 50 51 Project Delta 52 Formulas 53 54 55 Crossover Rate = IRRA CC 10% 15% 20% 22% 25% 0 3 4 6 7 19 1 $6.39 2 $6.39 5 $6.39 8 $6.39 9 $6.39 10 $6.39 11 $6.39 12 $6.39 13 $6.39 14 $6.39 15 $6.39 16 $6.39 17 $6.39 18 $6.39 20 $6.39 -$40.00 $6.39 $6.39 $6.39 $6.39 $6.39 $11.00 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 $2.47 #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A Formula #N/A