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Hollygan Co. must choose between gas-powered and anelectric-powered forklift truck for moving materials in itsfactory. Because both forklifts perform the same function, the firmwill choose only one. (They are mutually exclusive investments.)The electric-powered truck will cost more, but it will be lessexpensive to operate; it will cost $106,000, whereas the gaspowered truck will cost $80,000. The required rate of return thatapplies to both investments is 11 percent. The life for both typesof truck is estimated be 10 years, during which time the net cashflows for the electric-powered truck will be $20,500 per year andthose for gas-powered truck will be $15,750 per year. Calculate theNPV and IRR for each type of truck, and decide which torecommend.***Please show all work***