Global steel prices have a year-over-year inflationary rate increase of 12.9%. Tube Fab purchased $625,000 of a particular carbon steel during the year just ended right now, and they intend to purchase the same quantity at the end of each of the next 5 years. Tube Fab earns a real rate of 16% on their money.

a. Determine the then-current amounts they will pay for streel at the end of each of the next 5 years.

b. Determine the constant value amounts they will pay for steel at the end of each of the next 5 years

c. Determine the PW of expenditures over the next 5 years using then-current dollars

d. Determine the PW of expenditures over the next 5 years using constant-value dollars.

Please use Excel with steps if possible