expansion. If Hemingway uses debt, it will have a yearly interest expense of $$73,000.$

Create a spreadsheet to conduct a tax analysis $($assume a $21\%$ flat tax rate$)$ for Hemingway Corporation and determine the following:

a$.$ What is Hemingway's current annual corporate tax liability?

b$.$ If Hemingway finances its expansion using cash reserves, what will be its new corporate tax liability?

c$.$ If Hemingway finances its expansion using debt, what will be its new corporate tax liability?

d$.$ What would you recommend the firm do$?$