Obtain Telstra' (ticker code: TLS) financial statements (annual) from investing.com. Download the annual income statements, balance sheet and cash flow statements for the last financial year (i.e., thefinancial year ended 30 June 2023).

Calculate the Net Cash Flow of the following project (7 years)

TLS can contract with a firm named Innovative Equipment Limited (IEL) which is specialised in manufacturing the required hardware. Based on the types and expected number of units TLS would need, IEL management has quoted a total cost of $75,000,000 in Year 1 which will continue to grow at 4.5% per annum to keep up with the rising cost and forecasted growth in the number of the required units. Also, IEL requires that TLS pays 85% of the expected cost for a year in advance at the beginning of that year. From the accounting perspective, equipment that are procured from IEL may be classified as cost of goods sold in the books of TLS. Hence, they will be treated as operating expense for the business.

Given that the expected revenue of $100,000,000 per year. Assume that the project's cost of capital will be equal to 8%.