EXCEL WORKSHEET. You are offered an asset that costs $14,000 and has cash flows as follows below at the end of each quarter for the next 8 years. Then it will be sold for $2,500. Your cost of capital is 6.5 percent. An alternative (mutually exclusive) project is available which offers an accounting rate of return of 8%, a classical payback period of 5 years and a discounted payback period of 5 years. Year 1: $800 each quarter Year 2: $850 each quarter Year 3: $850 each quarter Year 4: $950 each quarter Year 5: $800 each quarter Year 6: $600 each quarter Year 7: $500 each quarter Year 8: $400 each quarter a) What is the IRR of the asset? (2 points) b) What is the NPV of the asset? (1 point 2 points) c) What are the PI and NPI of the asset? (BONUS QUESTION: 1 point) d) What are the classical and discounted payback periods? (BONUS QUESTION: 1 point) e) What are the four accounting rate of returns (utilizing cash flows)? (BONUS QUESTION: 1 point) f) Should you purchase it? Base your answer on your solutions to parts a through e a and b (IRR and NPV) and explain why.