EXCEL WORKSHOP PART II You are a staff accountant at Anderson 8: Paul, a CPA firm located in downtown San Diego. A long-time client, Brady Patterson, has contacted you with a request. Brady is 52 years old and is in the 32% tax bracket. He is beginning to think about saving for retirement and has some questions. His employer does not offer a retirement plan so he is considering an IRA. However, he is confused about the differences between a Roth IRA and a Traditional IRA and needs your advice. He wants you to prepare an Excel spreadsheet that he can use to see the difference in a Traditional versus a Roth IRA. Based on your discussion with Brady, the Excel model should cover a ten-year period. Brady would like to be able to change the following items in the model: 1. Year analysis begins 2. Amount of the IRA contribution (Note: only one contribution in this analysis m one per year) 3. Tax rate at date of contribution (Note: assume the contribution is made on January 1 of the initial year) 4. Annual growth rate (Note: constant growth throughout the analysis period) 5. Tax rate at date of withdrawal (Note: assume the entire account balance is withdrawn at the end of the tenth year) Prepare the model so that the above input variables automatically update the worksheet. This will allow Brady to test various assumptions and see the results of contributing to a Roth or a Traditional IRA. The model should be based on a contribution only in the first year. Don't build the model to have contributions every year