Use the following information to complete the calculation of NPV, IRR, discounted payback and Payback, while all other info stays the same.

Manufacturing cost (for depreciation, too)		Sales Revenue
1950000		Increasing by 3.5% per year

P.339 Self Test Problem 10.1 Pro Forma Income Statements Year Sales Variable Costs Gross Profit Fixed Costs Depreciation EBIT Taxes Net Income 3 6,120,600 2,448,240 3,636,000 3,672,360 450,000 218,625 2,879,875 3,003,735 1,021,270 1,982,465 4 6,181,806 2,472,722 3,709,084 450,000 156,125 3,102,959 1,055,006 2,047,953 Sales Reverue Increasing by 3.5% per year 6,000,000 2,400,000 3,600,000 450,000 178,625 2,971,375 1,010,268 1,961,108 6,060,000 2,424,000 1950000 450,000 306,125 979,158 1,900,718 Cash Flows Operating Cash Flow Changes in NWC Net Capital Spending Cash Flow From Assets 2,204,078 (1,150,000) (350,000) 15,000) (15,150) 1,545,452 545,270 4,294,799 2,139,733 2,206,843 2,201,090 (1,250,000) 2,400,000 1,789,733 2,191,843 2,185,940 Net Present Value IRR Payback Period $2,978,298 81.97% 1.28 1+(ABS(B17)-C17)D17 Working Capital Change in NWC 1,150,000 1150000 1,500,000 350000 2 1,515,000 15000 1,530,150 15150 1,545,452 15301.5 P.339 Self Test Problem 10.1 Pro Forma Income Statements Year Sales Variable Costs Gross Profit Fixed Costs Depreciation EBIT Taxes Net Income 3 6,120,600 2,448,240 3,636,000 3,672,360 450,000 218,625 2,879,875 3,003,735 1,021,270 1,982,465 4 6,181,806 2,472,722 3,709,084 450,000 156,125 3,102,959 1,055,006 2,047,953 Sales Reverue Increasing by 3.5% per year 6,000,000 2,400,000 3,600,000 450,000 178,625 2,971,375 1,010,268 1,961,108 6,060,000 2,424,000 1950000 450,000 306,125 979,158 1,900,718 Cash Flows Operating Cash Flow Changes in NWC Net Capital Spending Cash Flow From Assets 2,204,078 (1,150,000) (350,000) 15,000) (15,150) 1,545,452 545,270 4,294,799 2,139,733 2,206,843 2,201,090 (1,250,000) 2,400,000 1,789,733 2,191,843 2,185,940 Net Present Value IRR Payback Period $2,978,298 81.97% 1.28 1+(ABS(B17)-C17)D17 Working Capital Change in NWC 1,150,000 1150000 1,500,000 350000 2 1,515,000 15000 1,530,150 15150 1,545,452 15301.5