Current Designs manufactures kayaks. Pedal Boats, Inc. has approached Current Designs about using its rotomold expertise and equipment to produce some pedal boat components for Pedal Boats Inc.. Current Designs is interested in exploring this opportunity, but is concerned that the pedal boats are a different shape than the kayaks it currently produces. Current Designs would need to buy an additional rotomold oven in order to produce the pedal boat components. This project clearly involves risks, and management wants to ensure the returns justify the risks.As an intern at Current Designs, you have been asked to prepare an initial evaluation of this proposal. To aid in your analysis, the following information and assumptions have been provided. Present Value tables are include in the $2$nd worksheet tab for your use. Enter labels, cell references, formulas, and typed answers where indicated.$-$Cost of the new rotomold oven$265\mathrm{.}000-$Projected Cash Flows: Year $1-4$Cash Revenues$63,400$Cash Expenses$22,200-$Projected Cash Flows: Year $5-7$Cash Revenues$68,600$Cash Expenses$24,900$Re$-$tooling cost in year $56,000-$Estimated scrap value$10\mathrm{.}000-$Useful Life of the new rotomold oven in years$7-$Discount Rate $8\%$