Answer the following question:

The discount rate is 12%. Use Excel to calculate PV of all future cash flows using the PV formula on excel do not use NPV. Answer is $1,330,866.67.

Year 7 $300000

Year 8 $300000

Year 9 $250000

Year 10 $250000

Year 11 $250000

Year 12 $150000

Year 13 $150000

Year 14 $150000

Year 15 $150000

Year 16 $75000

Year 17 $75000

Year 18 $75000

Year 19 $50000

Year 20 $50000

For year 7, the present value is $166,901.07 For year 8, the present value is $148,738.07 For year 9, the present value is $116,965.32 For year 10, the present value is $103,803.58 For year 11, the present value is $92,506.19 For year 12, the present value is $46,802.08 For year 13, the present value is $41,827.50 For year 14, the present value is $37,449.55 For year 15, the present value is $33,618.77 For year 16, the present value is $14,684.35 For year 17, the present value is $12,219.12 For year 18, the present value is $10,169.64 For year 19, the present value is $6,394.05 For year 20, the present value is $5,356.22

Show the excel formula to get these numbers.