A major credit car company is launching a referral program, which gives an existing customer $$50$ for each new person he or she refers to the company $($does not necessarily have to become a customer$).$ The credit card company estimates that the average annual spending of a customer is $$10,000,$ and the revenue for the credit card company would be $5\%$ of the spending. The estimated marketing and operational costs for the referral program is $$500,000$ per year. It is estimated that $20\%$ of the referrals end up as new customers,

Using Goal Seek function in Microsoft Excel, estimate the number of referrals needs for the company to breakeven on this project? Show the steps.

Please use Goal Seek in Microsoft Excel and demonstrate step by step