Ten years have passed since Amell issued $10 million in perpetual interest only debt with a 6% annual coupon. Amell's marginal tax rate has remained the same at 21%. Amell's current cost of debt capital is 4%. Complete the steps below using cell references to given data or previous calculations. In some cases, a simple cell reference is all you need. To copy/paste a formula across a row or down a column, an absolute cell reference or a mixed cell reference may be preferred. If a specific Excel function is to be used, the directions will specify the use of that function. Do not type in numerical data into a cell or function. Instead, make a reference to the cell in which the data is found. Make your computations only in the blue cells highlighted below. In all cases, unless otherwise directed, use the earliest appearance of the data in your formulas, usually the Given Data section. a. What is Amell's annual interest tax shield? b. What is the present value of the interest tax shield today? Interest rate Tax rate Amount of debt Current cost of debt capital 6.00% 21% $10,000,000 4.00% a. What is Amell's annual interest tax shield? Interest payment Annual interest tax shield b. What is the present value of the interest tax shield today? PV(interest tax shield) Requirements 1. Start Excel - completed. 2. In cell D15, by using cell references, calculate the annual interest payment (1 pt.). 3. In cell D16, by using cell references, calculate the annual interest tax shield (1 pt.). 4. In cell D20, by using cell references, calculate the present value of the annual interest tax shield (1 pt.)