Epiphany Industries is considering a new capital budgeting project that will last for three years. Epiphany plans on using a cost of capital of 12% to evaluate this project. Based on extensive research, it has prepared the following incremental cash flow projections:

Please fill in the following:

1. -90,000

2. 33,929

3. 30,293

4. 37,724

5. NPV = 11946

6. IRR: ??

please show how to solve using Texas Instrument BA II Plus.

0 Year Sales (Revenues) - Cost of Goods Sold (50% of Sales) - Depreciation = EBIT - Taxes (35%) = unlevered net income + Depreciation + changes to working capital - capital expenditures = Free Cash Flow 1 100,000 50,000 30,000 20,000 7000 13,000 30,000 -5000 2 100,000 50,000 30,000 20,000 7000 13,000 30,000 -5000 3 100,000 50,000 30,000 20,000 7000 13,000 30,000 10,000 -90,000 -90,000 38,000 38,000 53,000 1)( ) 2)( ) 3)( ) 4) ) 0.12 PV of FCF (FCF/(1+i)n discount rate NPV = 5)( ) IRR = 6)( )