The MHA Medical Center is planning to purchase an MRI and a CT scanner for its new imaging center. The equipment is expected to generate $$3,000,000$ per year in revenues for the next five years. Operating expenses, excluding depreciation, are estimated at $$1,200,000$ per year for the same period. The initial capital investment outlay for the equipment is $$5,500,000,$ which will be depreciated on a straight$-$line basis to its salvage value of $$800,000$ at the end of year five. The cost of capital for this project is $12\%.$ show the depreciation expense

$1)$ Calculate the Net Present Value $($NPV$).$ Use the attached Excel file to perform the calculation; and then copy and paste the screenshot in the box below.

$2)$ Calculate the Internal Rate of Return $($IRR$).$ Use the Excel spreadsheet uploaded in the exam folder.Capture your calculation and attached the image below, or upload the Excel file along with your completed exam file to the exam submission folder.

$3)$ Based on the NPV and IRR results, should this project be accepted or rejected? Assume the required rate of return is $13\%.$ Explain your reasoning.