BE7.3-Using Excel to Calculate the Simple Payback Period and IRR PROBLEM Ava just graduated from college. Since she is starting her own business, it's time to upgrade from her clunker to a reliable vehicle. Ava has the option to purchase a new car for her business at a cost, estimating that it would help her bring in additional annual net operating cash flows. Information pertaining to the proposed investment is presented here. Cost of new car $ 25,000 7 Student Work Area Required: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. years Estimated useful life in years Estimated salvage value Estimated additional net operating cash flows over the life of the car $ 8,000 Expected tax rate 30% Determine the simple payback period. Simple payback period Determine the annual depreciation expense using the SLN function. Annual depreciation Determine the after-tax annual cash flows. After-tax cash flows List the cash flows by year and determine the IRR for this investment. Year Year Of Cash Flows Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 IRR