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2. The company is considering a project involving the purchase of new equipment. Change the data area of your worksheet to match the following: Use Exhibit 148-1 and Exhibit 148-2. (Use appropriate factor(s) from the tables provided.) A B C 1 Chapter 14: Applying Excel 2 3 Data Example E 5 Cost of equipment needed 310,000 Working capital needed 40.000 Overhaul of equipment in four years 35.000 Salvage value of the equipment in five years 40,000 9 Annual revenues and costs 10 Sales revenues $ 425,000 11 Cost of goods sold $ 265,000 12 Out-of-pocket operating costs $ 70,000 13 Discount rate 14 96 a. What is the net present value of the project? (Negative amount should be Indicated by a minus sign. Round your present value factor to 3 decimals and round all other Intermediate calculations to nearest whole dollar.) Net present value c. The internal rate of return is between what two whole discount rates (e.g., between 10% and 11% between 11% and 12% between 12% and 13%, between 13% and 14%, etc.)? The internal rate of return is between 96 and d. Reset the discount rate to 14%. Suppose the salvage value is uncertain. How large would the salvage value have to be to result in a positive net present value? Minimum salvage value required to generate a positive present valueRequired Information The Chapter 14 Form worksheet is to be cample E and Exhibit 14-8 in the text. Download the Applying Excel form and enter formulas In all cells that contain question marks. For example, in cell C21 enter the formula *= B10". Note: The present value factors co e built-in Excel function PV. but we re mend using the formulas in Appendix 145. Verify that your worksheet ple in the text. Check your nt rate to 10%. The net present value should now between $56,400 and $56.535-de e calculations. If you do not get an answer in this range, find the errors in your nstead of using the Discount Factor tables. Click here to view Exhibit 14 tor(s) using tables Save your completed Applying Excel form to your co and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions In Part 2. download reference file your response Chapter_14_Applying_Excel_Student_Form.xIs Chapter_14_Applying_Excel_Student_Form remoA17 A B C D E F G H J Chapter 14: Applying Excel Data Example E Cost of equipment needed $60,000 6 Working capital needed $100,000 7 Overhaul of equipment in four years $5,000 8 Salvage value of the equipment in five years $10,000 9 Annual revenues and costs: 10 Sales revenues $200,000 11 Cost of goods sold $125,000 12 Out-of-pocket operating costs $35,000 13 Discount rate 14% 14 15 Enter a formula into each of the cells marked with a ? below 16 Exhibit 14- 17 Years 18 Now 1 2 3 5 19 Purchase of equipment 20 Investment in working capital 21 Sales 22 Cost of goods sold 23 Out-of-pocket operating costs 24 Overhaul of equipment 25 Salvage value of the equipment 26 Working capital released 27 Total cash flows (a) 28 Discount factor (14%) (b) 29 Present value of cash flows (a) x (b) 30 Net present value 31 32 *Use the formulas from Appendix 13B: 33 Present value of $1 = 1/(1+r)^n 34 Present value of an annuity of $1 = (1/r)*(1-(1/(1+r)^n)) 35 where n is the number of years and r is the discount rate 36 37 38 39 40 Chapter 14 Form