Please show all Excel formulas.

1. Capital Budgeting Apache Airlines is looking to buy some gates at a West Coast airport. The key financial variables are below. Note that the gates revert back to the airport at the end of year 10. Purchase Price $25M Yearly Revenue $12M Operating costs 40% of revenue Discount Rate 10% Gate Renovation (Fit-out Costs) $11M (year 2 and in year 6) Revenue Inflator 2.8% Tax Rate 21% What are the NPV and IRR of the gates? Should Apache invest in them? Why or why not? Prob. 1 Prob. 2 Prob. 3 Prob. 4 Apache Gate Purchase Purchase price Fit-out costs Yearly revenue Revenue inflator Operating costs (% of revenue) Discount rate Tax rate Years 2 z 10 6 0 Investment Revenues Expenses Income before tax Taxes Net income after tax NPV IRR