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Please answer and provide excel calculations/show work. The Adderley Corporation is considering investing in a new machine that has an estimated life of three years.

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Please answer and provide excel calculations/show work.
The Adderley Corporation is considering investing in a new machine that has an estimated life of three years. The cost of the machine (in $ millions) is $500 and the machine will be depreciated straight line over its three-year life to a residuai value of $0. The machine will result in sales of 300 million widgets in year 1 with future sales estimated to grow by 10% per year. The price per widget that Adderley will charge its customers is $19 and is to remain constant over the three years. The widgets have a cost per unit to manufacture of $7 each. Installing the machine and the resulting increase in manufacturing capacity will require an increase in various net working capital accounts. It is estimated that the company will need to hold 3% of its annual revenues in cash, 4% of its annual revenues in accounts receivable, 13% of its annual revenues in inventory, but will also benefit from trade financing (lie., accounts payable) equal to 6% of its annual revenues. The firm is in the 28% tax bracket and has a cost of capital of 7%. What is the required investment in net working capital (in \$ millions, rounded to one decimal place, e.g., 12.3) in the second year of operations

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