A small Queensland farming company is contemplating whether to invest in a new irrigation system for their farmland. Currently their crop yields 45 tonnes that can be sold at $1,000 per tonne. The investment is projected to boost crop yields by 10% per year for a decade. The irrigation project entails an initial investment of $100,000 and requires an annual maintenance cost of $20,000 per year. The company has already spent $50,000 on a previous project that was unsuccessful. Assume a discount rate of 5% and a tax rate of 30%. a) Find the Market Perspective result. NPV=$IRR=(% Show your calculations in your spreadsheet. b) The company is expected to finance half of the initial cost with a loan. The loan will have a life of 5 years and an annual interest rate of 8%. Find the Investor Perspective and the IRR for the investor after gearing. NPV before tax =$ NPV after tax =$ IRR for the investor % Show your calculations in your spreadsheet. Ensure you break down all components of the calculation