This equal the first cost divided the annual cash flow

2. Compute the payback for each project and rank the projects generated in step one using payback, which is the length of time needed to return the initial cost. This is equal to the first cost divided by the annual cash flow. The smaller the better.

3. From the ranked list, use an initial capital budget of $600,000 to buy as many projects as possible. Only whole projects can be purchased. Any unused cash will rollover to year two. Keep track of the projects purchased and continue to year two. For year two generate 30 projects, rank them, and purchase projects using the money that projects purchased in year one have provided through their yearly cash flows. Note that any project purchased will return the yearly cash flow every year through its life. For year three generate 35 projects, rank them and purchase using the same approach. Continue this process in year four with 40 projects and year five with 45 projects.

Your submitted file MUST follow the designated name scheme: IEE6060-Sp2018-[Last Name]-[First Initial]-VBA[Assignment #].xlsm

Example: VBA Assignment 1 submission by student named Alex Smith File Name: IEE6060-Sp2018-Smith-A-VBA1.xlsm