You are the financial analyst for the University of South Carolina's athletic department. As part of its master facilities plan, the department's chief financial officer has asked you to analyze a capital investment, a new stadium remodel. The project cost $15,000,000, and the cost of capital is 8.75%. The project's expected to increase revenue by $1,500,000 in year one and then increase by 2% each year into year 30. The stadium will have to be updated in 10 years at a cost of $5m and again in 10 more years at a cost of $6m. a. In Excel, calculate each project's payback period and discounted payback period. b. Using Excel's financial functions, calculate each project's net present value, internal rate of return, and modified internal rate of return.