Need help with the slover or Goal seek functions!

On January 1,2013, Acme Co. is considering purchasing a 40 percent ownership interest in PHC Co., a privately held enterprise, for $700,000. PHC predicts its profit will be $185,000 in 2013, projects a 10 percent annual increase in profits in each of the next four years, and expects to pay a steady annual dividend of $30,000 for the foreseeable future. Because PHC has on its books a patent that is undervalued by $375,000, Acme realizes that it will have an additional amortization expense of $15,000 per year over the next 10 yearsthe patents estimated useful life. All of PHCs other assets and liabilities have book values that approximate market values. Acme uses the equity method for its investment in PHC. Required 1. Using an Excel spreadsheet, set the following values in cells: Acmes cost of investment in PHC. Percentage acquired. First-year PHC reported income. Projected growth rate in income. PHC annual dividends. Annual excess patent amortization. 2. Referring to the values in (1), prepare the following schedules using columns for the years 2013 through 2017. Acmes equity in PHC earnings with rows showing these: Acmes share of PHC reported income. Amortization expense. Acmes equity in PHC earnings. Acmes Investment in PHC balance with rows showing the following: Beginning balance, Equity earnings. Dividends. Ending balance. Return on beginning investment balance = Equity earnings/Beginning investment balance in each year. 3. Given the preceding values, compute the average of the projected returns on beginning investment balances for the first five years of Acmes investment in PHC. What is the maximum Acme can pay for PHC if it wishes to earn at least a 10 percent average return on beginning investment balance? (Hint: Under Excels Tools menu, use the Solver or Goal Seek capability to produce a 10 percent average return on beginning investment balance by changing the cell that contains Acmes cost of investment in PHC. Excels Solver should produce an exact answer while Goal Seek should produce a close approximation. You may need to first add in the Solver capability under Excels Tools menu