Please show excel formulas! (Formulas can be shown in excel)

Problem 8: DETERMINING THE INCREMENTAL PROJECT CASH FLOWS A manager at a consumer electronics firm is considering a 5-year project to improve its packaging process for cables and other accessories and reduce waste. The project requires a temporary product line to be set up in a warehouse that is currently rented out to a local distributor. The manager has collected the following information on the project The project requires an immediate investment of $300,000 in new equipment. The equipment will have a 10-year economic life and will be depreciated straight-line to a salvage value of . zero. After 5 years, the equipment can be sold for S100,000 The production line is expected to produce revenues of $600,000 per year (starting in year 1) and its operating cash costs are expected to be $270,000 per year The rent the firm receives on its warehouse equals $150,000 per year. The current book value of the warehouse is $500,000 and the annual depreciation amount equals $10,000. The firm plans to sell the warehouse at the end of year 5 for $450,000, irrespective of whether the project will be undertaken Capital. The level of NWC will remain constant for the duration of the project if it sets up the product line Operating the product line will require an immediate investment of $100,000 in Net Working Since the project reduces waste, the firm can claim an immediate one-time tax credit of $20,000 The manager has estimated that the relevant cost of capital for an investment of this type equals 12%. The marginal corporate tax rate for the electronics firm is 40%. Furthermore, you can assume that all cash flows are realized at the end of the year. Should the manager go ahead with the investment project? Show your calculations (hint: set up a cash flow template and first work out the Free Cash Flows of the project, and then calculate the project's NPV and IRR)