Dublin Chips is a manufacturer of prototype chips based in Dublin, Ireland. Next year, in 2018, Dublin Chips expects to deliver 615 prototype chips at an average price of $95,000. Dublin Chips' marketing vice president forecasts growth of 65 prototype chips per year through 2024. That is, demand will be 615 in 2018, 680 in 2019, 745 in 2020, and so on. (Click the icon to view additional information.) (Click the icon to view the data on the two options available and additional information.) 3. Euture Value of Annuity.ot$1 Read the requirements Requirement 1. Calculate the cash inflows and outflows of the modernize and replace alternatives over the 2018- 2024 period First, determine the cash inflows and outflows of the modernize altenative over the 2018 to 2024 period. (Use a minus sign or parentheses for a cash outflows. If a box is not used in the table, leave that box empty, do not enter a zero.) Units Net cash Initial Proceeds from Year sold contributions investments sale of equipment Jan 1, 2018 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 Next, determine the cash inflows and outflows of the replace alternative over the 2018 to 2024 period. (Use a minus sign or parentheses for a cash outflows. If a box is not used in the table, leave that box empty, do not enter a zero.) Units Net cash Initial Proceeds from sold contributions investments sale of equipment Year Jan 1,2018 Dec 31, 2018 Dec 31, 2019 Dec 31, 2020 Dec 31,2021 Dec 31, 2022 Dec 31, 2023 Dec 31, 2024 answers to two decimal Requirement 2. Calculate payback period for the modernize and replace alternatives. (Round your places.) The payback period for the investment assuming the modernize alternative is The payback period for the investment assuming the replace alternative is years. years