please show all steps and formulas not using excel

Your company is planning to add a new product line to its offering and you are responsible for the capital budgeting analysis. The plan is to set up the production line in currently unused space at the existing facility. The new machine's invoice price is $200,000 plus an additional $10,000 for shipping, for a total of $210,000. The company's engineers estimate a cost of $30,000 for installation of the machine which has a forecasted economic life of 4 years, along with a $25,000 salvage value after 4 years. The equipment will be depreciated using the MACRS 3 year class. The new product line is estimated to generate an additional 1,250 units per year of sales for the 4 year period at an incremental cost of $100 per unit in the first year. excluding depreciation. Each unit can be sold for $200 in the first year. After the first year both the sales price and cost of each unit are expected to increase 3% per year. Net working capital is anticipated to increase as a result of the incremental sales by amount equal to 12% of such sales. The firm has a WACC of 10% and a federal and state tax rate of 34% and 9.1%, respectively. Base on the above: 1. Define relevant "incremental" cash flow 2. Should interest expense or dividends be subtracted when calculating project cash flows? 3. Assume the plant space could be leased to another firm at $30,000 per year. How would you include this in your analysis, if at all? 4. Assume the new product line will negatively impact the company's sales of other products by $50,000 per year. How will you consider this in your analysis? 5. Without taking into consideration items 3 and 4 above, what is the depreciable basis of the machine and each year's depreciation expense? 6. Prepare the free cash flow forecast of revenues costs and balance sheet impacts. Discuss whether it should include or exclude inflation effects. 7. Calculate NPV, IRR, MIRR and Payback. 8. Would you recommend the project? What other issues may need consideration