On January 1, 2020, Parker Company sold in exchange for cash, $25 million of bonds payable to investors. The bonds mature on December 31, 2049, have a stated interest rate of 8%, and pay interest annually on December 31 of each year. The market interest rate was 6% on the date that Parker sold the bonds and is expected to fluctuate between 5% and 9% over the 30-year life of the bonds. As required by GAAP, Parker uses the effective interest method of amortizing any bond discount or premium.

Use Excel (and only Excel) to prepare a table for Parker Company that shows the following for each of the 30 years in the life of the bonds: Interest Expense, Cash Paid as Interest, Discount or Premium Amortization, Remaining Unamortized Discount or Premium, and Carrying Amount of the Bonds. (Note: You must use only Excel to prepare and present all parts of this table. Do not use a hand-held calculator, and do not use the compound interest tables to solve any part of this problem.)

I need to have the excel formulas used to calculate the answers to be included so I can know how to properly do it and get full credit.