Capital rationing Management of Frisco Films is considering the following capital projects Project New film studies Cameras and equipment Cust $12,000,000 1,920,000 Land improvement 1.000.000 Motion picture # 10.680,000 Motion picture 40,000 4800,000 Corporate rah 440,000 Annual After-Tax Cash Flows Number of Years $840,000 480.000 700,000 10 2,982,000 5 2.352.000 180.000 462,000 Motion picture #3 Assume that all projects have no salvage value and that the firm uses a discount rate of 10 percent. Management has decided that only $15.000.000 can be spent in the current year for capital projects. a. Use Excel to determine the net present value, profitability index, and internal rate of return for each of the seven project. Note: Round NPV (final answer) to the nearest whole dollar Note: Round Pl to two decimal places 6e round 1.466 to 1.47) Note: Round IRR percentage to one decimal place (.e. round 8.555% to 8.6%) Project Name NPV P Fim studios 1 Cameras & equipment 2,147,346 6401725 12 13.3% 13 17.9% Land improvement 1,350,377 15 18.5% Motion picture a 624,166 11.9% Motion picture 2 615.605 11 142% Motion picture 83 1318352 1,4 (198%) 311350 12 1634