How to calculate the PP, and what it means?

A B C D E F G H J K L M N O PROPOSED ROBOTICS PROJECT ANSWER BOX AT ROW 35 Period 0 1 2 3 4 5 6 7 8 AWNH 9 10 Year 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1. Estimate of Incremental Gross Profit UT New Output (tons) 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 267,500.0 Lost Output--Construction -33,437.5 New Sales (Millions) 158.0 180.6 180.6 180.6 180.6 180.6 180.6 180.6 180.6 180.6 New Gross Margin 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 New Gross Profit 0.1 21.7 24.8 24.8 24.8 24.8 23.9 23.9 23.9 23.9 23.9 11 Old Output 250,000.0 250,000.0 250,000.0 250,000.0 250,000.0 250,000.0 250,000.0 250,000.0 250,000.0 Old Sales 250,000.0 12 168.8 168.8 168.8 168.8 168.8 168.8 168.8 13 168.8 168.8 Old Gross Profit 168.8 19.4 19.4 19.4 19.4 19.4 19.4 19.4 19.4 14 19.4 19.4 Incremental Gross Profit 2.3 5.4 5.4 5.4 5.4 4.5 4.5 4.5 4.5 4.5 15 2. Estimate of Incremental inventory 16 New inventory 4.1 4.7 4.7 4.7 4.7 4.7 4.7 4.7 4.7 17 4.7 Old inventory 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 4.5 18 Incremental inventory -0.4 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 19 3. Estimate of Incremental Depreciation 20 New Depreciation 1.6 1.4 1.2 1.0 0.9 0.8 0.7 0.6 0.5 21 4. Overhead 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 22 5. Prelim. Engineering Costs 0.4 0.5 23 Pretax Incremental Profit -0.2 3.6 3.8 4.0 4.1 3.3 3.4 3.5 24 6. Cash Flow Adjustments 3.6 3.6 25 Less Capital Expenditures -12.0 26 Add back Depreciation 1.6 1.4 1.2 1.0 0.9 0.8 0.7 0.6 0.5 27 Less Added inventory 0.5 0.4 -0.6 0.0 0.0 0.0 0.0 0.0 0.0 0.0 28 7. Free Cash Flow 0.0 -12.0 1.9 3.3 3.9 3.8 3.8 3.1 3.1 3.0 3.0 29 3.0 30 NPV $15.89 31 PI -1.32 32 IRR 23% 33 PP