Ruiz Company issued bonds on January 1 and has provided the relevant information. The Controller has asked you to calculate the bond selling price given two different market interest rates using the Present Value Tables. Use the information included in the Excel Simulation and the Excel functions described below to complete the task. Correct my formulas and find missing yellow rows. Also, show the Excel Formulas that you use to find the answer, please.

TILL HUIVIE INSERI PAGE LAYUUT FUKIVIULAS DAIA REVIEVV VIEVV Sign in Calibri 11 A A % it Paste B I U Alignment Number Cells Conditional Format as Cell Formatting Table Styles Editing Clipboard Font Styles A1 On January 1, Ruiz Company issued bonds as follows: V A B D E F 3 4 4 Face Value: $ Number of Years: Stated Interest Rate: Interest payments per year (Note: the bonds pay interest annually.) 500,000 30 7% 5 6 7 8 9 Required: 10 1) Calculate the bond selling price given the two market interest rates below. 11 Use formulas that reference data from this worksheet and from the appropriate future or 12 present value tables (found by clicking the tabs at the bottom of this worksheet). 13 Note: Rounding is not required. 14 a) Market Interest Rate: 15 16 Annual Interest Payment: $ 35,000.00 9% 15 16 17 Annual Interest Payment: PV of Face Value: + PV of Interest Payments: Bond Selling Price: $ 35,000.00 =C3/(1/C14/C6)^(C4*1) =pv(C14/1,C4*1,C16) $ 397,263.46 18 19 20 21 b) Market Interest Rate: 5.5% 22 23 35,000.00 $ =C3 24 Annual Interest Payment: PV of Face Value: + PV of Interest Payments: = Bond Selling Price: 25 26 $ 609,003.09 27 28 2. Use the Excel IF function to answer either "Premium" or "Discount" to the following items. 29 30 The bond in (a) sold at a: Discount 31 32 The bond in (b) sold at a: =IF(C3