The discount rate is 15% for all of the following:

1.Calculate the NPV and IRR of the fifth project based on the below information: An initial investment cost is $ 1,089,000 and its salvage value is $330,000. The project has expected cash flows of $ 125,000, $ 175, 000 , $246,000, $380,000 , $452,000, and $439,100 over next six years .

2. The sixth project has estimated free cash flows (FCF) of $ 900,000 , \$900,300 , $802,000 , $ 1,000,000 , and $1,042,000 over next five years and believes that subsequent cash flows will grow at a constant rate of 3% forever. Calculate the TODAY's terminal value of cash flows and total value of the project .

3. The last project has the same FCF with the sixth project . However , in the last projection period (year 5 ), the project has EBITDA of \$8,500,000 and assume its EBITDA exit multiple of 10. Calculate the TODAY's terminal value of cash flows and total value of the project .

Please include all of the formulas and excel sheets used to find the answers.