Bullard Company $($BC$)$ is considering expanding its product range to include industrial machinery parts such as machine tables, saddles, machine bases, and other similar components. Several combinations of new equipment and personnel could fulfill this new function.

Option $1($M$1)$: A new machining center with three operators.

Option $2($M$2)$: A new machining center equipped with an automatic pallet changer and two task$-$sharing operators.

Each of these setups incurs different costs and generates different revenues. Specifically, the use of a pallet changer reduces the time needed to load and unload parts. Although acquiring, installing, and fitting tools for a pallet changer are more costly$,$ its efficiency and versatility lead to higher annual revenues. On the other hand, while task$-$sharing operators help save on labor costs, they

require more extensive training and are initially less efficient. Additionally, each option offers different production capacities, as detailed in the accompanying table.

BC has set the unit selling price at $$5\mathrm{.}0$ and the unit material cost at $$2\mathrm{.}4.$ It anticipates selling $20,000$ units in the first year. With operators becoming more skilled and better at collaboration over time, BC expects annual production to increase by $1,000$ units annually over four years, from the second year to the fifth year. Sales are then projected to stabilize for the remaining five years of the ten$-$year study period. BC has also prepared a table outlining the investment costs and projected additional benefits for each option.

$\backslash$table$[[,$M$1,,],[$Capacity: units per year,$15,000\mathrm{.}00,,28,000\mathrm{.}00$

Considering expansion, Bullard Company $($BC$)$ acknowledges that not proceeding with the

expansion $("$do nothing"$)$ remains a valid option if none of the proposed methods prove

economically feasible. Should BC decide to proceed, it plans to operate the chosen machining

center for the next ten years. Moreover, BC is exploring the option to finance $40\%$ of the project's

initial investment at a $9\%$ APR compounded annually, which will be repaid through ten equal

annual installments.

Questions:

$1.(65$ points$)$ Calculate the net inflows, outflows, and net cash flows for each option over the $10-$year horizon. Note: It is assumed that BC should not produce more units than the estimated

demand.

$2.(10$ points$)$ Given BC$\text{'}$s Minimum Acceptable Rate of Return $($MARR$)$ of $12\%,$ determine which option would be preferable based on Net Present Worth $($NPW$)$ analysis.

$3.(25$ points$)$ Compute the Internal Rate of Return $($IRR$)$ and Benefit$/$Cost $($B$/$C$)$ ratio for each project. Then, apply incremental analysis to identify the most advantageous option. Consider

whether this analysis alters your initial decision.

HELP ME FILL OUT THE TABLE IN EXCEL!

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