Develop an Excel spread sheet for the following problem. Calculate the Present Value Net Benefits (PVNB), the Benefit-to-Cost and Savings-to-Investment Ratios (BCR and SIR). State whether the project is economic or not. N.B: consider all benefits, profits etc to be positive and all costs, investments etc to be negative.

Building first costs (design, planning and construction) = $10,000,000 - Initial cost for roadway and parking facilities = $5,500,000 - First cost to equip and furnish facility = $500,000 - Annual operating and maintenance costs = $350,000 - Annual savings from rented space = $500,000 - Annual benefits to community = 1,500,000 - Project life = 50 years - Interest rate = 12%