Based on the above information and using Excel, calculate the following items for this proposed equipment purchase:

Based on the above information and using Excel, calculate the following items for this proposed equipment purchase:Annual cash flows over the expected life of the equipment;Payback period;Annual rate of return;Net present value; and Internal rate of return.2. Would you recommend the acceptance of this proposal? Why or why not? Prepare a short, double-spaced Word paper elaborating and supporting your answer.