Your company is planning to borrow $1.75 million on a 5-year, 8%, annual payment, fully amortized term loan. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet What fraction of the payment made at the end of the second year will represent repayment of principal? Do not round intermediate calculations. Round your answer to two decimal places. % " | Loan Amortization 2 B Loan amount $1,750,000 Term in years 5 5 Annual coupon rate 8.00% 5 Calculation of Loan Payment 3 Loan payment = 7 Formula #N/A Interest Principal Ending Balance Loan Amortization Schedule 1 Year Beginning Balance Payment 2 1 2 3 5 4 6 5 7 Formulas 9 Loan Amortization Schedule 0 Year Beginning Balance Payment 1 1 #N/A #N/A 2 2 #N/A #N/A 3 3 #N/A #N/A 4 4 #N/A #N/A 5 5 #N/A #N/A 6 Percentage of 2nd Year Payment Representing Repayment 7 of Principal 8 Interest #N/A #N/A #N/A #N/A #N/A Principal #N/A #N/A #N/A #N/A #N/A Ending Balance #N/A #N/A #N/A #N/A #N/A #DIV/0! =E13/C13