Provide cell reference please

Please provide cell reference. Thank you! Webmasters.com has developed a powerful new server that would be used for corporations' Internet activities. It would cost S10 million to buy the equipment necessary to manufacture the server, and it would require net operating working 9capital equal to $2 million. The servers would sell for $22,000 per unit, and Webmasters belieres that variable costs 10 would amount to S17.000 per unit. After the first year, the sales price and rariable costs vould increase at the inflation 11 rate of 3%. The company's fixed costs rould be $1 million per year, and would increase with inflation. It would take 12 one year to buy the required equipment and set up operations, and the server project sould have a life of 4 years. Ifthe 13 project is undertakem, it must be continued for the entire 4 years. Also, the project's returns are espected to be highly 14 correlated with returns on the firm's other assets. The firm believes it could sell 1,500 units per year. 15 16 The equipment would be depreciated over a 7-year period, using MACRS rates. The estimated market value of the 17 equipment at the end of the project's 4-year life is S1.5 millioa Wehmasters, federal-plus-state tax rate is 40%-lts 18 cost of capital is 10% for average risk projects. 21 a Develop a spreadsheet model and use it to find the project's NPV, IRR, and payback Key Output:NPV 25 Part 1. Input Data (in thousands of dollars) MIRR 27 Equipment cost 28 NOWC needed 9 First year sales (in units) 30 Sales price per unit 1 Variable cost per unit 32 Fixed costs Market alue of equipment in Year 4 Tar rate WACC 34 Part 2. 35 Year 36 37 Equipment Depr'n Rate 38 Equipment Depr'n, Dollars 39 E 40 1 Part 3. Net Salrage Values, in Year 4 42 Estimated Market Value in Year 4 43 Book Value in Year 4 44 Expected Gain or Loss 45 Taxes paid or tar credit 6 Net cash flow from salvage 47 48 Part 4. Projected Net Cash Flows (Time line of annual cash flows) 49 50Investment Outlays at Time Zero: 51 Equipment 52 NOWC needed and Amortization Schedule Years Accum'd 4 Depr' Initial Cost Bk Val: Cost- Accum Years 4Operating Cash Flows over tke Project's Life 55 Units sold 56 Sales price per unit 57 Variable costs per unit 58 59 Sales revenue 60 Variable costs 61 Fixed operating costs 62 Depreciation (equipment) 63 Oper. income before taxes (EBIT) 64 Taxes on operating income (40%) 65 Net Operating Profit After Taxes (NOPAT) 66 Add back depreciation 67 Operating cash low 68 69 Terminal Year Cash Flows: 70 Recovery of NOWC 71 72 Terminal Year Cash Flows: 3 Net salvage value 75 Net Cash Flow (Time line of cash flows) 76 77 Part 5. Key Output: Appraisal of the Proposed Project 78 79 Net Present Value (at 10%) 80 IRR 81 MIRR 82 83 Payback (See calculation below) 84 85 Data for Payback Years 86 87 Cumulative CF (Based on Row 75) IF Function to find payback