please answer it and write the steps fOR GOAL SEEK

A company purchases an asset that costs $13,000. This asset qualifies as three-year property under MACRS. The company uses an after-tax discount rate of 10% and faces a 34% income tax rate. (Use Table 1, Table 2 and Exhibit 12.4.) 1. Demonstrate that the PV of the depreciation deductions, when the income tax rate is 34%, is $3,677. 2. Given an after-tax discount rate of 10%, what tax rate would be needed in order for the PV of the depreciation deductions to equal $4,420? Use the Goal Seek function of Excel. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Demonstrate that the PV of the depreciation deductions, when the income tax rate is 34%, is $3,677. (Do not round intermediate calculations. Round "PV factor" to 3 decimal places and other answers to 2 decimal places.) Year MACRS % 1 $ % % 33.33 44.45 14.81 7.41 N Depreciation Deduction $ 4,332.90 5,778.50 1,925.30 963.30 $ 13,000.00 Tax Savings $ 1,473.19 1,964.69 654.60 327.52 $ 4,420.00 PV Factor 0.909 0.826 0.751 0.683 Present Values 1,339.13 1,622.83 491.60 223.70 3,677.26 3 3 4 % % 100.00 $ A company purchases an asset that costs $13,000. This asset qualifies as three-year property under MACRS. The company uses an after-tax discount rate of 10% and faces a 34% income tax rate. (Use Table 1, Table 2 and Exhibit 12.4.) 1. Demonstrate that the PV of the depreciation deductions, when the income tax rate is 34%, is $3,677. 2. Given an after-tax discount rate of 10%, what tax rate would be needed in order for the PV of the depreciation deductions to equal $4,420? Use the Goal Seek function of Excel. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Given an after-tax discount rate of 10%, what tax rate would be needed in order for the PV of the depreciation deductions to equal $4,420? Use the Goal Seek function of Excel. (Round your answer to 2 decimal places.) Marginal income tax rate : %