Excel Online Structured Activity: NPV profiles A company is considering two mutually exclusive expansion plans. Plan A requires a $39 million expenditure on a large-scale integrated plant that would provide expected cash flows of $6.23 million per year for 20 years. Plan B requires a $13 million expenditure to build a somewhat less efficient, more labor- intensive plant with an expected cash flow of $2.91 million per year for 20 years. The firm's WACC is 11%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. X Open spreadsheet. a. Calculate each project's NPV. Round your answers to two decimal places. Do not round your intermediate calculations. Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55. Plan A: $ Plan B: $ million million Calculate each project's IRR. Round your answer to two decimal places. Plan A: Plan B: % % b. By graphing the NPV profiles for Plan A and Plan B, approximate the crossover rate to the nearest percent. c. Calculate the crossover rate where the two projects' NPVs are equal. Round your answer to two decimal places. d. Why is NPV better than IRR for making capital budgeting decisions that add to shareholder value? The input in the box below will not be graded, but t may be reviewed and considered by your instructor. NPV WACC D) Plan A PunB 1 Project NPV Catons HNPV, 12 NPV 14 Projector Calculationa 18 NPVP 11.00% C D G M M N A 10 12 13 14 15 M 10 20 $3000 16.23 36 23 5623 56.23 3623 36.21 16.23 5621 $623 5623 633 3623 5623 5623 1621 5623 3423 16.21 16.23 $13.00 $701 $2.91 $2.91 R2M 201 $2.01 $2.01 $2.91 $2.91 $2.01 32 01 $2.91 $2.01 $2.01 $2.91 $2.01 12.01 12.01 201 Formul INA A NA Disc Ra NPV. NPV 5000 1000 21 50.00 $0.00 22 35 $0.00 $0.00 23 10% 30.00 5000 24 15% 30.00 $0.00 20% $0.00 $0.00 22% $0.00 $0.00 50.00 $0.00 NPV Profiles 35 36 17 38 41 42 43 44 1080 5030 03 Cauldon of Crossover R 47 Pun A 27% 21% $3000 1623 2 0623 7 10 11 16.33 3623 5621 1623 1623 5623 56.21 5423 $623 12 36.23 14 15 16 17 18 1623 56.23 3623 1623 $0.23 5623 36.23 36.23 $13.00 1231 32.91 2. 1291 201 201 $2.01 $2.91 $291 $231 $21 $2.91 $2.01 12.31 R2M1 12.11 1231 43 Plan 31 Project D 12 Formulas Formula 55 Cossover Ran 54 INA ANIA