Please show work/explain answers. Calculate the NPV, IRR and payback period for a potential project for adding a new soda product given the following information:

- Bank offering 5 year 16% annual interest loan. With 20% of the needed capital borrowed, the 20/80 debt-equity structure would result in an 18.2% weighted average cost of capital for this project.

- Projected sales 600,000 liters/month @ $5/liter for 5 years

Additional working capital is needed to ensure smooth production and sales of this new product line. Keeping raw materials inventory at a level equal to one month of production. Offering a longer collection period, letting the grocers pay in 45 days, instead of the normal 30 days. Accounts payable would follow the companys normal policy, and settle the accounts in 36 days

- Raw materials: $1.80/liter

- Labor: $180,000 per month

- Energy: 50,000/month

- General admin and selling expense: 300,000/year

- Accounting department charge: 1% of sales overhead cost

- Machine/installation cost: 50,000,000 and could be fully depreciated on a straight-line basis over 5 years. Resale value is 4 million at the end of 5 years time.

- The company already owns a vacant annex building that it will use for new machines and finished product. However, they recently received a lease offer for 60,000 a year.

- There is concern for potential erosion of current product, which could cost the company as much as $800,000 of after-tax cash flows per year.

- Tax rate on income and capital gains: 30%