Laurman, Inc. is considering the following project: \begin{tabular}{l} Required investment in equipment \\ Project life \\ \hline The project would provide net operating income each year as follows: \\ Sales \end{tabular} 2,205,000 7 225,000 1. Compute the annual net cash inflow from the project. 2. Complete the table to compute the net present value of the investment. Present value of the cash flows Net present value Use Excel's PV function to compute the present value of the future cash flows Deduct the cost of the investment Net present value 3. Use Excel's RATE function to compute the project's internal rate of return 4. Compute the project's payback period. years 5. Compute the project's simple rate of return