COMPLETE: the following раrts of the case: Introduction Keу Facts Statement of the Problem Spreadsheets for both projects. (will be attached) INCORPORATE: answers to the following items and questions in your analysis: • Part 1: Compare the business cases for each of the projects under consideration by Emily Harris. Are they compatible with New Heritage’s strategy? • Part 2: Determine the incremental debtfree cash flow for each project (through 2020). Why is a debtfree cash flow used? Why does Free Cash flow exclude all interest? • Part 3: Determine the discount rate for each project. Do you agree with the proposed rates given in the case? Why or why not? • Part 4: Use the operating projections for each project to compute the NPV for each. Which project creates more value? • Part 5: Compute the IRR for each project. Which project should be chosen based on IRR? • Part 6: What is the relationship between IRR and NPV? Will they lead to the same acceptance or rejection of the decision? Will they lead to the same ranking of projects? • Part 7: If Harris is forced to recommend one project over the other, which should she recommend? Why?