A and B need to be done on Excel with the correct Excel formulas, otherwise no credit will be given.

A rich relative has bequeathed you a growing perpetuity. The first payment will occur one year from now and will be $1,000. Each year after that, you will receive a payment on the anniversary of the previous payment that is 8% larger than the previous payment. This pattern of payments will go on forever. Assume that the interest rate is 12% per year. 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 today's value of the bequest? b. What is the value of the bequest immediately after the first payment is made? | $ Annual payment Growth rate Interest rate 1,000 8% 12% a. What is today's value of the bequest? Value of bequest b. What is the value of the bequest immediately after the first payment is made? Value of bequest Requirements 1 In cell D14, by using cell references, calculate the value of a bequest today (1 pt.). 2 In cell D18, by using cell references, calculate the value of the bequest immediately after the first payment is made (1 pt.)