DATAFile: GoalKick Goal Kick Sports (GKS) is a retail chain that sells youth and adult soccer equipment. The GKS financial planning group has developed a spreadsheet model to calculate the net discounted cash flow of the first five years of operations for a new store. This model is used to assess new locations under consideration for expansion. (a) Use Excel's Formula Auditing tools to audit this model and correct any errors found. What is the total discounted cash flow (in dollars) calculated by the corrected spreadsheet. (Round you answer to the nearest dollar.) $ 744862 (b) Once you are comfortable that the model is correct, use Scenario Manager to generate a Scenario Summary report that gives Total Discounted Cash Flow for the following scenarios. Tax Rate Scenario 1 2 3 4 32% 27% 32% 24% Inflation Rate 2% 4% 3% 1% Annual Growth of Sales 22% 14% 7% 13% What is the range of values for the Total Discounted Cash Flow (in dollars) for these scenarios? (Round your answer to the nearest dollar.) $ Goal Kick Sports New Store Financial Model Parameters Store Size (square feet) 7,500 Total Fixed Assets $280,000 Straight Line Depreciation period 5 Discount Rate 10% Tax Rate 33% Inflation Rate 2% Cost of Merchandise (% of sales) 28% First Year Sales Revenue $950,000 Annual Growth Rate of Sales 15% Operating Expenses Rent Per Square Foot $30 Labor Cost $150,000 Other Expenses $235,000 Model Year Sales Revenue Cost of Merchandise Labor Cost Rent Other Expenses 1 4 2 3 5 $950,000 $1,092,500 $1,256,375 $1,444,831 $1,661,556 $266,000 $305,900 $351,785 $404,553 $465,236 $150,000 $153,000 $156,060 $159,181 $162,365 $225,000 $299,250 $398,003 $529,343 $704,027 $235,000 $239,700 $244,494 $249,384 $254,372 Net Operating Income Depreciation Expense $74,000 $94,650 $56,000 $56,000 $106,034 $102,370 $75,557 $56,000 $56,000 $56,000 Net Income Before Tax $18,000 Income Tax $5,940 $38,650 $50,033 $46,370 $19,557 $12,755 $16,511 $15,302 $6,454 Net After Tax Income $12,060 Plus Depreciation Expense $56,000 Annual Cash Flow $68,060 $25,895 $33,522 $31,068 $13,103 $56,000 $56,000 $56,000 $56,000 $81,895 $89,522 $87,068 $69,103 Discounted Cash Flow $61,873 $67,682 $67,260 $59,469 $42,908 Total Discounted Cash Flow $299,191