Please Show all details in how you got the answers step by step. DO NOT JUST PUT THE ANSWER. I want to actually learn how to solve the problem. Please use excel and also put the formulas so I can know how to do it by myself. Also do not copy and paste from other websites. If you are not sure how to solve please leave it to a Chegg Expert. Please and THANK YOU!!!

suppose you are trying to decide whether to purchase a business. The owners want $800,000 for the business. You expect that you will be able to collect S20o,ooo in revenue in ar 1, and you expect your revenues to increase by 6% each year through year 10. Your costs in year 1 are expected to be 120,ooo but you expect them to increase by 3% each year thereafter. You believe that you will be able to sell the business after 10 for ,000 the end of year the rate of at 10. if return on similar businesses is 20%, calculate the most you should be willing to pay for this business. Are you willing to pay the $800,000 price demanded by the current owners? Explain (ignore any tax issues) (HINT: You ARE CALcuLATING How MUCH YOU LD BE WILLING TO PAY Not the IRR) (25 pts)