Garrison Appliances, Inc. is considering expanding its international presence. It sells 25% of all the toaster ovens sold in the United States but only 3% of the toaster ovens sold outside of the United States. The organization believes that it can sell more of its product if it has a production facility located overseas. Estimates concerning two possible locations, Mumbai and Bangalore, India follow: Possible Location Mumbai Bangalore Initial cash outlay $5,000,000 $2,800,000 Useful life 20 years 20 years Net cash inflows excluding depreciation $1,100,000 $860,000 The cost of capital 9% 9% Tax rate 40% 40% The Assignment: Part 1: Prepare a spreadsheet using Excel or a similar program in which you compute the following for each proposed location Accounting rate of return on investment Payback Net present value Internal rate of return