Using relevant data provided about the Baby Food Project below, prepare a cash flow table and calculate the NPV, IRR, PVI, and discounted payback period. KIDSLEY Ltd is planning to invest in a new baby food (CN23) project that requires equipment with a purchase price of $192,000. The installation cost for the CN23-producing equipment would be $25,000. The transportation cost of $12,000 for the equipment would be paid by the supplier. The machine will have an economic life of five years and would be depreciated at 13 percent straight line for the tax purpose. The salvage value of the equipment is estimated to be $31,000 at the end of the project life. Starting production with this machine requires an additional investment of $65,000 in inventory and $28,000 in accounts receivable. Whereas, there would be additional accounts payable of $51,000. In order to analyse the effectiveness of the CN23 baby food to provide enough nutrition to newborn kids, the management has spent $29,000 for clinical tests. The tests revealed that the CN23 baby food uses genetically modified ingredients along with unsustainable palm oil. Business practices of using such ingredients in baby food are usually highly criticised by different concerned groups. Despite the adverse outcomes of the tests, the management has decided to go for production with its plan to sell the product in developing countries using convincing marketing strategies. Expected sales in the first year would be $195,000. Sales are expected to grow at 24% in each year until the 5th year. Costs have been estimated to be 44 percent of sales revenue. In addition, there would be an annual fixed overhead cost of $6,557. If the project is started, the regular annual net earnings of $22,000 of the company from the same production facility would be reduced by 50%. This new project will increase the annual interest expense from $11,000 to $14,400. Whereas, due to the start of the project, annual sales of the company's chocolate will increase by $30,000 in the first year and that increased sales will further grow by 8 percent in each year until the 5th year. The cost of sale for the chocolate products is 40 percent. The applicable corporate tax rate would be 31 percent. The cost of capital is estimated to be either 10.95 percent or 16.18 percent. The management has targeted a discounted payback period of three years. What would be your decision about this project at 10.95 and 16.18 percent costs of capital? What would be your comment in recommending this project considering qualitative factors?