The municipal golf course has made a budget request to remodel and upgrade the clubhouse. The project will cost $7,200,000, based on reliable estimates. The additional annual operating expenses after the upgrade are expected to be $200,000 per year. An analysis of the experiences of other municipal golf courses reveals an expected revenue increase of $1 million per year after the upgrade. The useful life of the upgraded clubhouse is estimated at 9 years, and the golf course expects to get a loan for the renovations at an interest rate of 4.25%. Should the renovations be approved? I need the answer to the cell highlighted in pink. The formula in excel please

Year	Cash Out	Cash In	Net Cash Flow	Present Value
0	$ (7,200,000.00)	$ -	$ (7,200,000.00)	$ (7,200,000.00)
1	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 767,386.09
2	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 736,101.77
3	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 706,092.82
4	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 677,307.26
5	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 649,695.22
6	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 623,208.84
7	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 597,802.24
8	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 573,431.41
9	$ (200,000.00)	$ 1,000,000.00	$ 800,000.00	$ 550,054.11
			$ -	$ (1,318,920.24)
Rate	4.25%
Excel f(x)			Yes	No
Should the renovations be approved?				x