Based on the information provided above, calculate the projects NPV, IRR and MIRR in excel. Should HHI pursue this investment? Explain why.

Happy Holiday Inc (HHI) is considering a new capital budgeting project that will last for three years. The initial investment outlay for project equipment is expected to be $150,000. The equipment will be straight-line depreciated down to zero book value over the three-year period. The company anticipates it can sell the asset for $60,000 when the project is liquidated at the end of the third year. The project requires an initial investment in Net Working Capital of $10,000. During the operational period Net Working Capital Requirements is expected to be 10% of the revenues. HHI's cost of capital is 10% and the project does not have a distinct risk profile. HHI's tax rate is 21%. Based on extensive research, analysts have prepared the following revenue forecasts for the project. The gross margin is estimated to 50% of sales, and it is assumed to be the similar to those for other HHI's other projects. Note that gross project costs include cost of sales and operating expenses except for depreciation. Please also note that the Net Working Capital investments will be recovered at the end of the project and should be part of terminal cash flows