PLEASE ANSWER WITH FORMULAS IN THE CELLS! Thank you!

Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell C21 enter the formula "= B10". Note: The present value factors could be computed using the built-in Excel function PV, but we recommend using the formulas in Appendix 13B. Verify that your worksheet matches the example in the text. Check your worksheet by changing the discount rate to 10%. The net present value should now be between $56,400 and $56,535--depending on the precision of the calculations. If you do not get an answer in this range, find the errors in your worksheet and correct them. If you did not use formulas to calculate the Discount Factors, be sure that those values are updated appropriately using the Appendix 13B formulas that are also noted at the bottom of the spreadsheet instead of using the Discount Factor tables. Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factor(s) using tables. Chapter 12: Applying Excel Data Example E Cost of equipment needed Working capital needed Overhaul of equipment in four years Salvage value of the equipment in five years Annual revenues and costs: Sales revenues Cost of goods sold Out-of-pocket operating costs Discount rate $60,000 $100,000 $5,000 $10,000 $200,000 $125,000 $35,000 14% Enter a formula into each of the cells marked with a ? below Exhibit 12-8 Years 3 Now 1 2 4 5 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Purchase of equipment Investment in working capital Sales Cost of goods sold Out-of-pocket operating costs Overhaul of equipment Salvage value of the equipment Working capital released Total cash flows (a) Discount factor (14%) (b) Present value of cash flows (a) x (b) Net present value ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? *Use the formulas from Appendix 13B: Present value of $1 = 1/(1+r)^n Present value of an annuity of $1 = (1/r)*(1-(1/(1+r)^n)) where n is the number of years and r is the discount rate