Please format the same way as the Excel I have attached, and please post formulas screenshot as well!

Williamston Widgets Inc. (WWI) wishes to determine whether it would be advisable to replace an existing production system with a new automated one. They have hired you as a consultant to determine whether the new system should be purchased. The data you will need is as follows: 1 wwi has decided to set a project timeline of 4 years. The new system will cost $3,200,000. It will be depreciated (straight line) over a five- year period (its estimated useful life), assuming a salvage value of $200,000 the amount the company will be writing the new system down to over its five-year expected life). The old system, which has been fully depreciated, could be sold today for $506,329. The company has received a firm offer for the system from Stockbridge Sprockets, and WWI will sell it only if they purchase the new system. > Additional sales generated by the superior products made by the new system would be $3,000,000 in Year 1. In Years 2 and 3 sales ted to grow 4.5% per year. However, in Year 4 sales are expected to decline by 10% per year as the market starts to become saturated. > Total expenses have been estimated at 74.0% of Sales. The firm's tax rate 21%. WWI requires a minimum return on the replacement decision of 8.5%. A representative from Stockbridge Sprockets has told WWI that they will also buy the system from them at the end of the project (the end of Year 4) for $600,000. WWI has decided to include this in the terminal value of the project. The project will require $200,000 in additional Net Working Capital, 40% of which will be recovered at the end of the project. Part 1: Base Case: Complete the DCF Model using the above data, and calculate NPV and IRR. B D E F 1 2 3 4 5 Expenses as a percent of the sales 74.00% 6 Cost of the system $3,200,000 7 Salvage value of new system $200,000 3 Old system resale $506,329 9 New system resale $600,000 20 Tax rate 21.00% -1 Required rate of return 8.50% .2 Project time period 4 .3 -4 .5 Years 6 0 .7 Capital Spending -8 9 OCF: 20 Revenues -1 Expenses 2 Depreciation 23 EBIT 4 Taxes 25 Net Income 6 Depreciation 27 OPERATING CASH FLOW 18 29 Net Working Capital 90 31 2 Total Cash Flow 3 4 NPV 0.00 35 IRR #NUM! 6 $3,000,000 $2,220,000 $3,135,000 $2,319,900 $3,276,075 $2,424,296 $2,948,468 $2,181,866