Please not an Excel solution. Pls won't forget to up vote

The Vivek & Co. Ltd is considering the purchase of a new machine. Two options have been suggested, each costing GH400,000. Earnings after taxation but before depreciation are expected to be as follows Year Machine X Machine Y GHC GHC. 1 40,000 120,000 2 120,000 160,000 3 160,000 200,000 240,000 120,000 5 160,000 80,000 The Company has a target rate of return on capital @ 10% and Depreciation rate is 20% (straight line method). On this base, you are required a) Compare the profitability index of the machines and state which option you consider financially favourable (8 marks) b) Calculate the Pay-back Period (PB) for each project (2 marks) c) Calculate the return on capital employed (ROCE) for each project. (3 marks) d) Internal Rate of Return (IRR) for each project (12 marks)