$[$Your company$]$ has developed a new procedure that greatly improves durability and efficiency. After

spending $$500,000$ on the research and development, $[$company$]$ is considering implementing the

procedure in a project that requires an initial investment of $$9,000,000$ in new equipment.

The equipment must be purchased before the new procedure can begin. For tax purposes, the

equipment is subject to a $5-$year straight$-$line depreciation schedule, with a projected zero salvage

value. For simplicity, however, we will continue to assume that the asset can actually be used out

into the indefinite future $($i$.$e$.,$ the actual useful life is effectively infinite$).$

$[$Company$]$ anticipates that the sales will be $$30,000,000$ in the first year $($Year $1).$ They expect that

sales will initially grow at an annual rate of $6\%$ until the end of sixth year. After that, the sales will

grow at the estimated $2\%$ annual rate of inflation in perpetuity.

The cost of goods sold is estimated to be $72\%$ of sales.

The accounting department also estimates that at introduction in Year $0,$ the new project's required

initial net working capital will be $$6,000,000.$ In future years accounts receivable are expected to

be $15\%$ of the next year sales, inventory is expected to be $20\%$ of the next year's cost of goods

sold and accounts payable are expected to be $15\%$ of the next year's cost of goods sold.

The selling, general and administrative expense is estimated to be $$6,000,000$ per year, but $$1$

million of this amount is the overhead expense that will be incurred even if the project is not

accepted.

The research and development to support the product was completed last month at a cost of

$$500,000$ to be paid by the end of next year.

The annual interest expense tied to the project is $$1,000,000.$

$[$Company$]$ has a cost of capital of $20\%$ and faces a marginal tax rate of $21\%$ and an average tax

rate is $30\%.$

please help me fill out the excel sheet correctly