Assume there is no need for additional investment in building the land for the p

Assume there is no need for additional investment in building the land for the project. The firms marginal tax rate is 35% and its cost of capital is 10%. To receive full credit on this assignment please show all work including formulae and calculations used to arrive at financial values.Assignment Guidelines:Using the information in the assignment description: Prepare a statement showing the incremental cash flows for this project over an 8-year period.Calculate the payback period (P/B) and the net present value (NPV) for the project.Answer the following questions based on your P/B and NPV calculations: Do you think the project should be accepted? Why? Assume the company has a P/B (payback) policy of not accepting projects with life of over 3 years. If the project required additional investment in land and building how would this affect your decision? Explain.