XYZ Company is considering a new five$-$year expansion project that requires an initial fixed asset investment of $$2,000,000.$ The fixed asset will be depreciated straight$-$line to zero over its five$-$year tax life, after which time it will have an estimated value of $$200,000.$ The project is estimated to sell $9,000$ units at $$150$ per unit, COGS at $$49$ per unit and SG&A expenses of $$139,000$ per year. Initial inventory required is $$10,000,40\%$ funded by accounts payable $($meaning accounts payable rises by $$4,000).$ The tax rate is $22$ percent and the required return on the project is $7\mathrm{.}5$ percent.

a$.$ Calculate the projects operating cash flow. $(4$ pts$)$

b$.$ Calculate NPV$,$ IRR and MIRR. For MIRR show both the full algebraic calculations and use the excel shortcut. $(5$ pts$)$

c$.$ Calculate the payback period. $(2$ pts$)$

d$.$ Should you accept the project? Why or why not? $(1$ pt$)$

Answer with an excel