Please use excel for Income Statement approach or tax shield approach. Thank you!

5 year time line

(Use the excel sheet attached to solve this problem) SNS Air is considering a new project. The project will require $85,000 for new fixed assets. There is a total of $5,000 combined increase in inventories and account receivables which is partly financed by 1,500 increase in account payables. The project has a 5-year life. The fixed assets will be depreciated using 5-year MACRS to a zero book value over the life of the project. At the end of the project, the fixed assets can be sold for 10 percent of their original cost. The net working capital returns to its original level at the end of the project. The project is expected to generate annual sales of 1,500 units and the selling price per unit is $35 while the variable cost per unit is expected to be $20. Annual fixed costs are expected to be $2,500. The tax rate is 35 percent and the required rate of return (cost of capital) is 8.5 percent. Calculate the project's initial investment costs, annual operating cash flows and terminal cash flows. What are project's NPV and IRR