PLEASE SHOW CALCULATIONS IN EXCEL FOR B, C AND D ONLY. THANK YOU :)

The Harding Corporation has $50.2 million of bonds outstanding that were issued at a coupon rate of 11.25 percent seven years ago, Interest rates have fallen to 10 percent. Preston Alter, the vice-president of finance, does not expect rates to fall any further. The bonds have 18 years left to maturity, and Preston would like to refund the bonds with a new issue of equal amount also having 18 years to maturity. The Harding Corporation has a tax fate of 25 percent. The underwiting cost o the old issue was 2.7 percent of the total bond value. The underwiting cost on the new issue will be 1.8 percent of the total bond value. The original bond indentur contained a five-year protection against a call, with an 8 percent call premium starting in the sixth year and scheduled to decline by one-haif percent each year thereafter (Consider the bond to be seven years old for purposes of computing the premium). Use Appendix D. a. Compute the discount rate. Discount rate b. Calculate the present value of total outfows. (Enter the answers in whole dollars, not in millions. Round "PV Factor" to 3 decimal pleces. Do not round Intermedlate calculations. Round the final answer to nearest whole dollar.) Total outflows $ c. Calculate the present value of total infiows. (Enter the answers in whole dollars, not in millions. Round "PV Factor" to 3 decimal pleces. Do not round Intermedlate calculations. Round the final answer to nearest whole dollar.) Total inflows $ d. Calculate the net present value. (Enter the answers In whole dollars, not In millons. Round "pV Factor" to 3 decimal places. Do not round Intermedlate calculations. Round the final answer to nearest whole dollar. Negative amount should be Indlcated by a minus sign.) Net present value $ e. Should the Harding Corporation refund the old Issue? Yes No