1 2 3 Instructions: Complete all cells shaded green. All answers must be determined using EXCEL formulae Question 3. On January 1, 2021 a Company acquired machinery and issued a noninterest bearing note: K L M 4 Face amount 5 Payable in 6 Market interest rate $825,000 10 years 8% for similar borrowings 7 8 Answer the following questions: 9 10 1) What are the total number of interest periods? 2 points 11 12 2) What is the market interest rate per semi-annual interest period? 2 points 13 14 3) What is the face amount payable in 10 years? 2 points 15 16 4) Using the VLOOKUP function, identify the present value factor for the 17 calculation of the present value of the face amount from the sheet 'PV of $1. 2 points 18 19 20 5) Calculate the present value of the face amount at January 1, 2021, using the PV factor from (4) above. 2 points 21 22 Note: points will only be assigned where the answer is determine using EXCEL formulae or cell references. 23 24