in the first question apply te(expected time) calculation for all years firstly.

A four-year software development project has estimates of net cash flows shown in the following table: Year Pessimistic Most Likely Optimistic Cost/Profit Estimate PV 2020 $ 85.000,00 S 85.000,00 $ 85.000,00 2021 $ 24.000,00 $ 30.000,00 $ 42.000,00 2022 $ 28.000,00 S 36.000,00 S 50.000,00 2023 $ 46.000,00 $ 50.000,00 $ 60.000,00 2024 $ 52.000,00 $ 60.000,00 S 80.000,00 Rate 20% It will cost $85,000 to implement the project, all of which must be invested at the beginning of the project. After the fourth year, the project will have no residual value. Numbers given on the table are found after long discussions including people from sales, finance and accounting departments too, so the values given are the net values after all expenses and tax. Using the most likely estimates of cash flows; a Calculate cash flow for each year assuming beta distribution. b- Conduct a discounted cash flow calculation assuming a 20 percent hurdle rate with assuming no inflation. - What is NPV of the project? Is the project acceptable? d. What is the discounted profitability index of the project? Is the project acceptable? You should do both Excel and paper and pencil calculation. (Upload Excel file and image of paper and pencil calculation.) A four-year software development project has estimates of net cash flows shown in the following table: Year Pessimistic Most Likely Optimistic Cost/Profit Estimate PV 2020 $ 85.000,00 S 85.000,00 $ 85.000,00 2021 $ 24.000,00 $ 30.000,00 $ 42.000,00 2022 $ 28.000,00 S 36.000,00 S 50.000,00 2023 $ 46.000,00 $ 50.000,00 $ 60.000,00 2024 $ 52.000,00 $ 60.000,00 S 80.000,00 Rate 20% It will cost $85,000 to implement the project, all of which must be invested at the beginning of the project. After the fourth year, the project will have no residual value. Numbers given on the table are found after long discussions including people from sales, finance and accounting departments too, so the values given are the net values after all expenses and tax. Using the most likely estimates of cash flows; a Calculate cash flow for each year assuming beta distribution. b- Conduct a discounted cash flow calculation assuming a 20 percent hurdle rate with assuming no inflation. - What is NPV of the project? Is the project acceptable? d. What is the discounted profitability index of the project? Is the project acceptable? You should do both Excel and paper and pencil calculation. (Upload Excel file and image of paper and pencil calculation.)