Sunland Communication Corp. is investing $8,921,700 in new technologies. The companys management expects significant benefits in the first three years after installation (as can be seen by the following cash flows), and smaller constant benefits in each of the next four years. Year 1 2 3 4-7 Cash Flows $2,083,000 $4,268,000 $3,187,100 $1,059,500 What is the discounted payback period for the project assuming a discount rate of 10 percent?

Can someone explain the excel solution to this problem including how calculations are put into excel? Thanks in advance.

Given information/inputs/arguments: Cash flow at time t = 0, years Cash flow at time t = 1, years Cash flow at time t = 2, years Cash flow at time t = 3, years Cash flow at time t = 4, years Cash flow at time t = 5, years Cash flow at time t = 6, years Cash flow at time t = 7, years Required annual rate of return Argument for PV function, pmt Argument for PV function, type Values (9,365,000) 2,265,433 4,558,721 3,378,911 1,250,000 1,250,000 1,250,000 1,250,000 10.00% 0 Comments Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter amount as positive value Enter rate as percent, XX.XX%, or decimal .XXXX Enter 0, not an annuity problem Enter 0, not an annuity problem 0 Excel solution method using PV, SUM, IF, and AND functions: Present value Cumulative Year count Cash flow of cash flow of pv cash flows 0 (9,365,000) 1 Present value of cash flow 2 3 4 5 6 7 Discount Payback Period, years