Blooper's analysts have come up with the following revised estimates for its magnoosium mine: Range Pessimistic Optimistic Initial investment +30% -20% Revenues -15% +15% Variable costs, percent of +20% -20% revenues Fixed costs +50% Working capital, percent of expected value +20% -20% -20% Conduct a sensitivity analysis for each variable and range and compute the NPV for each. Use Spreadsheet 10.1 and accompanying data as a starting point for the analysis. Note: Do not round intermediate calculations. Negative amounts should be indicated by a minus sign. Enter your answer in millions rounded to 2 decimal places. Project NPV Pessimistic Expected Optimistic Initial investment Revenues Variable costs Fixed costs Working capital A. Inputs Initial investment 150 Salvage value 20 Initial revenues 150 Variable costs (% of revenues) 40.0% Initial fixed costs 40 Inflation rate (%) 5.0% Discount rate (%) 12.0% Receivables (% of sales) 16.7% Inventory (% of next year's costs) 15.0% Tax rate (%) 21.0% Year: 0 1 2 3 4 5 6 B. Capital Investments Investments in fixed assets 150.00 Sales of fixed assets Cash flow investment in fixed assets -150.00 C. Operating cash flow Revenues Variable expenses Fixed expenses Depreciation Pretax profit Tax Profit after tax Operating cash flow 150.00 157.50 165.38 173.64 182.33 60.00 63.00 66.15 69.46 72.93 40.00 42.00 44.10 46.31 48.62 30.00 30.00 30.00 30.00 30.00 20.00 22.50 25.13 27.88 30.78 4.20 4.73 5.28 5.86 6.46 15.80 17.78 19.85 22.03 24.31 45.80 47.78 49.85 52.03 54.31 15.80 15.80 D. Working capital Working capital 15.00 40.75 42.79 44.93 47.17 30.39 0.00 Change in working capital 15.00 25.75 2.04 2.14 2.25 -16.79 -30.39 Cash flow from investment in working capi -15.00 -25.75 -2.04 -2.14 -2.25 16.79 30.39 0.408 0.408 0.408 0.408 0.250 E. Project valuation Total project cash flow Discount factor PV of cash flow Net present value -165.00 20.05 45.74 47.71 49.78 71.10 46.19 1.00 0.8929 0.7972 0.7118 0.6355 0.5674 0.5066 -165.00 17.90 36.46 33.96 31.64 40.34 23.40 18.70