For the next three $(3)$ questions, you will need the supplemental Excel file found HERE.

In the Excel file, you will see the $2022$A operating expenses for Terraform Limited. Using the Excel file, project out Terraform$$s operating expenses for the periods $2023$P through $2025$E using the appropriate driver, which are provided in the file, based on whether the expense line item is a fixed or variable cost.

NOTE: You are working only in the yellow shaded cells. The Excel file is already formatted for you. To avoid calculation errors, do not change the formatting in the file.

Question $2$ of $3$

Based on your projection, what percentage of Terraform$$s total operating expenses are fixed costs in $2025?$

$35\mathrm{.}3\%$

$39\mathrm{.}4\%$

$60\mathrm{.}6\%$

$64\mathrm{.}7\%$