Consider a proces for the production of a specialty chemical. The land i purchased for $40 MM. The FCI is spent evenly over the next two years for total of S660 MM. The WCI (S 70 MM) is spent towanis the cnd of the secone year. Operation starts at the beginning of the thind yeur. Table 1 shows the estimated annual production, selling price of the product, and annual operating cost (which accounts for raw materials, utilities, labor, maintenance, ete.). The project has an anticipated useful life period of 10 years from the start of operation A lincar depreciation over 10 years is usoed. At the end of the project, the WCI and salvage value are estimated to S70 MM and S60 MM, respectively. A tax sate o 35% is applied. The company uses a discount rate of 15%%. Calculate the NPV DCF ROL and discounted PBP for the project. (Hint: you need to add rows fo year 0, 1 and 2 in the Table to consider espenses related to land, FCI and WCL) Table 1. Data for Problem 1. End of Year Estimated Annual Estimated Selling Estimuted Anmal Price of Product Production Operating Cost (S S MMy 1.5 400 230 2.5 410 380 2.5 410 380 25 410 380 2.5 440 390 2.5 440 390 2.0 460 390 10 2.0 470 390 11 20 480 390 12 1.5 500 400