A firm is considering a new projectThe firm has already paid a $$10,000$ consulting fee for the feasibility analysis of the project. The project costs $$230,000$ to purchase buildings and equipment $,$ $$10,000$ for shipping fee, and $ $10,000$ for installation fee. The life of the project is $6$ years. The anticipated sales revenue is $$100,000$ in the first year and will increase by $10\%$ per year through year $6.$ The anticipated cost is $ $40,000$ in the first year and will increase by $4\%$ per year through year $6.$ The working capital needed in this project is $20\%$ of annual sales $.$ The project falls in the $5-$ year ACRS class so it will have depreciation percentages of $20\%,32\%,19\mathrm{.}2\%,11\mathrm{.}52\%,11\mathrm{.}52\%,$ and $5\mathrm{.}76\%$ The salvage value of the machinery is $ $25,000$ at the end of Year $6.$ The company is in the $35\%$ tax bracket and has $8\%$ of the cost of capital $.$ Please solve it on excel

$1.$ Compute the depreciation basis of the project and the depreciation expenses in $6$ years

$2.$ Compute the annual cash flows in $6$ years and draw a time line $.$

$3.$ Compute the payback period of the investment $4.$ Compute the discounted payback of the investment $.$

$5.$ Compute the NPV of the investment $.$

$6.$ Compute the IRR of the investment $,$ and discuss the potential problems associated with IRR method in general $.$

$7.$ Compute the MIRR of the investment

$8.$ Should this investment be taken or not? Discuss the reasons $.$