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Required: Each of the 5 tabs in this workbook contain independent time value of money questions. Find the solutions to each of the questions using the various time value of money Excel formulas we discussed in class (PV, FV, NPER, RATE, PMT). Show all steps and calculations. Whiskey Corp needs to purchase new equpiment for its distillery. The equipment needed is manufactured by Manny Corp. The equipment will be used for 10 years and then sold for $15,000 at the end of its useful life. Manny has presented Whiskey with the following options: Option 1: Buy equipment. The equipment could be purchased for $165,000 in cash. The insurance costs, which equal $10,000 per year, would be paid by Whiskey. Option 2: Lease equipment. The equipment could be leased for a 10-year period for an annual lease payment of $30,000 with the first payment due immediately. All insurance costs will be paid for by Manny Corp. and the equipment will revert back to Manny at the end of the 10-year period. Required: Assuming that a 12% interest rate properly reflects the time value of money in this situation and that insurance costs are paid at the end of each year, determine which option Whiskey should choose. Ignore income tax considerations. Show all steps/calculations