Explain how your original recommendation (in part 1) might change as a result of your sensitivity analysis.

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produce a written report of 1650 words, evaluating the proposal on behalf of Hatfield Rovers. Your report should include the following areas:

1. An investment appraisal of the base case of each project, using payback, NPV and IRR, resulting in a firm recommendation as to which project Hatfield Rovers should proceed with, and why. This should include a short discussion of why academics prefer the NPV method.

2. A sensitivity analysis of the two proposals, stating the justification for your analysis. (You should include as an appendix to your report, the detailed spreadsheets showing the relevant calculations). Explain how your original recommendation (in part 1) might change as a result of your sensitivity analysis.

3. Discuss the non-financial factors which Hatfield Rovers will need to take into account when evaluating these proposals.

4. Provide a final, firm recommendation, taking into account the base case, the results of your sensitivity analysis and the non-financial factors.