1. For a new product, sales volume in the first year is estimated to be 80,000 units and is projected to grow at a rate of 6% per year. The selling price is $12 and will increase by $0.50 each year. Per-unit variable costs are $3, and annual fixed costs are $400,000. Per-unit costs are expected to increase 3% each year. Fixed costs are expected to increase 8% each year. Develop a spreadsheet model to predict the net present value of profit over a three-year period, assuming at 4% discount rate.