Help! How do I solve this? Can you provide the formulas used to get the answers?

Please use Excel to solve the assignment and submit as an excel spreadsheet. BioInov could lunch two new products onto the market. The expected cash flows and investments are represented in the table below. Assume that the required return in either investment is 6%. Year Initial Investment Year 1 Year 2 Year 3 Year 4 Year 5 Nano Tests -$11,000 $2,000 $3,000 $4,000 $5,000 $6,000 Micro Kits -$11,000 $4,000 $4,000 $4,000 $4,000 $4,000 1. Compute the payback period for each project. If the company requires at most three years to recover the initial investment, should we accept either or both projects? 2. Compute the discounted payback period for each project. If the company requires at most three years to recover the initial investment, should we accept either or both projects? 3. Compute the NPV for each project. Should we accept either or both projects? 4. Compute the IRR for each project. Should we accept either or both projects? 5. If the projects are mutually exclusive (the company can only lunch one of the products), which should we choose