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Based on the Income statement for 5 years below, what is the projects NPV at WACC of 12%? Fill in all the blank highlighted cells and please show all work.

Income Statement Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Machines Cost $ Other Construction/Renovation Cost $ (3,100,000) (800,000) Gross Patient Revenue $ 9,671,000 $ 10,258,997 $ 10,882,744 $ 11,544,415 $ 12,246,315 Net Patient Revenue $ 3,497,180 $ 3,674,137 $ 3,860,049 $ 4,055,367$ 4,260,569 $ $ $ $ $ $ Expenses: Salaries & Wages Employee Benefits Supplies Utilities Rent Other Department Expenses Depreciation Expense Direct Overhead Expenses Allocation - Corporate Office Overhead Expenses Total Expenses before Corporate Overhead Operating Income Net operating income Depreciation Net salvage value Net cash flow $ Cost of Capital Net Present Value (using the excel NPV function) 911,040 $ 273,312 $ 96,000 $ 240,000 $ 120,000 $ 48,000 $ 780,000 $ 403,500 $ 418,370 $ 3,290,222 $ 206,958 $ 947,482 $ 284,244 $ 99,840 $ 249,600 $ 124,800 $ 49,920 $ 780,000 $ 411,570 $ 433,491 $ 3,380,947 $ 293,190 $ 985,381 $ 295,614 $ 103,834 $ 259,584 $ 129,792 $ 51,917 $ 780,000 $ 419,801 $ 449,185 $ 3,475,108$ 384,941 $ 1,024,796 $ 307,439 $ 107,987 $ 269,967 $ 134,984 $ 53,993 $ 780,000 $ 428,197 $ 465,473 $ 3,572,837 $ 482,531 $ $ $ $ $ 1,065,788 319,736 112,306 280,766 140,383 56,153 780,000 436,761 482,379 3,674,273 586,295 586,295 780,000 500,000 1,866,295 $ $ $ 206,958 $ 780,000 $ 293,190 $ 780,000 $ 384,941 $ 780,000 $ 482,531 $ 780,000 $ $ 1,262,531 $ (3,900,000) $ 986,958$ 1,073,190$ 1,164,941 $ 12% =NPV(B31,C30:G30)+B30 (entered in cell B32) Using alternative method Discount rate factor at the project's cost of capital of 12% Net Present value (Cash Flow*Discount Rate Factor) $ 0.89286 881,212 $ 0.71178 829,182 $ 0.56743 To calculate the discount factor for a cash flow one year from now, divide 1 by the interest rate plus 1 1,058,986 $ (1,130,620) (3,900,000) $ $ $

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