Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. Sarvon Systems has a debt-equity ratio of 1.2, an equity beta of 2.0, and a debt beta of 0.30. It currently is evaluating the following projects, none of which would change the firm's volatility: a. Which project will equity holders agree to fund? b. What is the cost to the firm of the debt overhang? a. Which project will equity holders agree to fund? Cutoff Project Profitability index Equity funded? b. What is the cost to the firm of the debt overhang? Opportunity cost (million) 1. Start Excel-completed. 2. In cell D19, by using cell references, find the ratio between the debt beta and equity beta and multiply it by the debt-to-equity ratio ( 1 pt.). 3. In cell D22, by using cell references, calculate the profitability index of project A (1 pt.). Copy cell D22 and paste it onto cells E22:H22 (1 pt.). 4. In cell D23, by using cell references and the function IF, determine whether the project would be eligible for equity funding. If the profitability index of project A is greater than the cutoff measure, input "Yes"; else input "No" (1 pt.). Copy cell D23 and paste it onto cells E23: H23 (1 pt.). 5. In cell E.27, by using cell references, calculate the cost to the firm of the debt overhang ( 1pt.). 6. Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed