Please show in excel spreadsheet if possible.

The development and construction of the project will take $3$ years, and the project will operate for $30$ years. The riskless rate is $5\%$; the rate of return on the market portfolio is $10\%,$ and the project$$s beta is $1\mathrm{.}2.$ DCC has no debt. DNFC expects to spend $$250,000$ for land one year after the contract is awarded $($t $=1).$ Construction of the building will cost $$2$ million, and the equipment will cost $$3$ million, both of which will be cash outflows at t $=2.$ The life of the building is $30$ years, and it will be depreciated toward a salvage value of $$50,000.$ The equipment has a five$-$year useful life with no salvage value. The equipment will be replaced at five$-$year intervals for $$3$ million upon each replacement. Straight$-$line deprecation will be used $($over years t $=4,$ t $=8,$ etc.$).$ To support operations, DNFC expects to need $$20,000$ in additional cash, to invest $$60,000$ in accounts receivable and $$80,000$ in inventory, and to maintain $$60,000$ in accounts payable. The investment in net working capital occurs at the start of operations $($t $=3).$ The revenues from the project will amount to $$800,000,$ fixed costs will be $$100,000,$ and variable costs will be $$150,000,$ all on an annual basis. At the end of the project, the firm is expected to restore the surrounding area for $$420,000,$ The firm$$s marginal tax rate is $21\%.$ The value of the land is expected to be constant over the project's life, and the building can be sold for $$150,000$ at the end of the project.

What is the minimum amount the municipality would have to pay DNFC when the contract is awarded $($t $=0)$ to make it worthwhile for DNFC to undertake the project?

Hint: Find the project$$s cost of capital and create a by$-$item capital budgeting analysis Excel spreadsheet like Table $10-4($page $258)$ in the EFS textbook$).$ Also, look at the Perma Filter example $($Canvas Modules, Chapter $10$ Additional Resources, and Chapter $10\mathrm{.}3($Parts $1$ & $2)$ videos$)$ to guide you through setting up the spreadsheet. Finally, remember that a project must have AT LEAST an NPV $=0$ so shareholders achieve the desired rate of return and the share price is not negatively impacted.