Part 2: Net Present Value 3. An Oklahoma-based company is interested in establishing a small ethanol refinery. Before they start, they want to determine the Net Present Value (NPV) to see if it's a worthwhile project. The ethanol refinery's cash inflows and outflows are listed in the table below. The time horizon is 3 years, with a discount rate of 5%. The initial investment is $100,000. a. First, complete the table by calculating the net cash flows for each of the three years. Cash Inflows Cash Outflows Net Cash Flow Year 1 $115,000 Year 2 $150,000 Year 3 $165,000 $173,000 $82,000 $59,500 b. Second, determine the NPV of the ethanol refinery. C. After calculating the NPV, should they build the ethanol plant? Briefly explain why.