No excel please

5) Your company has been considering introducing a four-year long computer hardware On January 15 2022, Glass Inc (GI) is considering implementing a recently developed recycling process named EnviroClean. GI's original Ultra-Cycle process cost $20,000,000 to implement on January 1" 2019. In the old Ultra-Cycle process, glass is crushed, melted, and then recycled into new glass products. In the proposed EnviroClean process crushing the glass is unnecessary. Using new technology, in the EnviroClean process, glass is directly melted and then recycled into new glass products. Given some similarities in the two processes, it is estimated that 10% of the cost of the original Ultra-Cycle process is attributed to the cost of developing the proposed EnviroClean process. year depreciation schedule. Upon completion of the proposed project, the new machinery will be sold for a value equivalent to its Undepreciated Capital Cost (UCC) at the time of the sale. 10 employees for the proposed project will be hired to begin work on January 1 2022. Each will work one hundred and seventy hours per month. They will be paid at the end of every month at a wage of $15,00 per hour for the duration of the project. Given the current labor shortage, this wage will certainly impact wages of workers currently employed in other operations of the firm. It is anticipated that the impact on current wages will increase expenses of GI's other operations by $20,000 per year indefinitely. Aware that the new service offered by the EnviroClean project will partially replace the old Ultra-Cycle process, you estimate that reduced Ultra-Cycle output will reduce GI's revenues by $200,000 each year. However, you are certain that the new EnviroClean products will increase revenues by $550,000 each year. The CFOs team predicts that the proposed EnviroClean project will partially replace the old Ultra-Cycle process, you estimate that reduced Ultra-Cycle output will reduce GI's revenues by $200,000 each year. However, you are certain that the new EnviroClean products will increase revenues by $550,000 each year. The CFOs team predicts that the proposed EnviroClean project will require the following levels of current assets and current liabilities items during the life of the project: Jan 1 2022 $0 $15,000 $0 Jan 1 2023 $30,000 $4,000 $4,000 Jan 1 2024 $30,000 $4,000 $3,000 Jan 1 Jan 1 2025 2026 $30,000 $30,000 $4,000 $5,000 $8,000 $3,500 Jan 1 2027 $0 $0 SO Inventory Cash Accounts Receivable Accounts Payable Taxes Payable $12,000 $5,000 $4,000 $1,000 $3,500 SO $0 $1,500 $1,000 $1,000 $2,000 $0 What is the NPV of the proposed project and what is your recommendation? (15 points)