You are offered an asset that costs $3000 and has cash flows of $500 every six month (end of period) of the next 10 years.a. If your cost of capital is 8.2 percent, should you purchase it?b. What is the IRR of the asset?c. What is the NPV of the asset?(Setup cash flows in Excel spreadsheets and use following Excel Financial functions, IRR and NPV to derive your answers.)Work for this problem must be shown through application of excel PMT and PV formulas (please see attached spreadsheet)QUESTION:You are offered an asset that costs $3000 and has cash flows of $500 every six month (end of period) of the next 10 years.a. If your cost of capital is 8.2 percent, should you purchase…
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