Please show work and any excel functions used for the following questions:

1. Calculate the Payback Period of each project.

2. Calculate the Discounted Payback Period (DPP) using 10% as the discount rate (cost of capital).

3. Calculate the ARR for each project. If management sets a hurdle for the accounting rate of return of 40%, which project would be accepted?

4. Calculate the IRR and NPV for each project. Use a 10% cost of capital.

5. Calculate the Incremental IRR for the projects.

6. Calculate the Profitability Index for each proposal.

Table 1. Synthetic Resin Cash Flows Synthetic Resin Year 2 3 4 Net Income $150,000 $200,000 $300,000 $450,000 $500,000 Depreciation $200,000 $200,000 $200,000 $200,000$200,000 Net Cash Flow$(1,000,000)$350,000 $400,000 $500,000 $650,000 $700,000 Table 2. Epoxy Resin Cash Flows Epoxy Resin Year 0) 2 3 4 Net Income $440,000 $240,000 $140,000 $40,000 $40,000 Depreciation $160,000 $160,000 $160,000 $160,000 $160,000 Net Cash Flow$(800,000) $600,000 $400,000 $300,000 $200,000 $200,000