on excel : ABC is considering a project to manufacture a new product and has paid $60,000 for market research. Here are

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on excel :
ABC is considering a project to manufacture a new product and
has paid $60,000 for market research. Here are the details.
The project would use a warehouse that ABC already owns, but is
currently leased to another company. Next year, the annual rental
revenue will be $100,000. In subsequent years, annual rental
revenues are expected to grow at a rate equal to annual inflation
(4%).
In addition, the project requires an investment of $1,200,000 in
equipment. The amortization of the equipment is calculated using
the declining balance method at a constant rate of 20% (reminder:
Annual amortization expense = Book value at the beginning of the
year * constant rate). Abc expects to complete the project at the
end of the tenth year and to sell the equipment at the end of the
tenth year for $300,000.
Under normal conditions, the company expects sales of the new
product to be $4,200,000 for the first year and to grow at a rate
of 5% per year for subsequent years. The project will also generate
additional annual revenues (special revenues that do not come
directly from the sale of the product) at a value of 2% of the
expected annual revenues for the new product.
The project requires an initial working capital investment of
$350,000. Then, the company expects annual working capital costs to
be 10% of the expected annual revenues for the new product for
years 1 through 10. Finally, ABC estimates that annual
manufacturing costs will be 90% of sales. The firm's tax rate is
35% and the cost of capital is 12%.
Part 1a:
What is the NPV of ABC’s project?