For the following organisation, calculate the undiscounted cash flow. You can do it in Excel and paste the result below.

Year	0		1		2		3		4		5
Unit Price	-		$105		$110		$115		$120		$125
Units Sold	-		900		1000		1100		1200		1300
Net Sales	-
Variable Costs	-		$54,000		$60,000		$66,000		$72,000		$78,000
Fixed Costs	-		$15,000		$15,750		$16,538		$17,364		$18,233
Depreciation	-		$13,000		$13,000		$13,000		$13,000		$13,000
PBIT	-
Tax@40%	-
NOPAT	-
Adjustments
Add back Depreciation		-
CapEx		$100,000		-		-		-		-		-
Salvage value		-		-		-		-		-		$40,000
Net cash flow
Cumulative cash flow

Place your answer (Excel) in the space below. Alternatively, do the exercise in Excel and enter the values back into the table above.