After your initial calculations for Question 2 above, you find out that there has been a change in the regulation. The State of Georgia now allows part-time employees to opt-out of the retirement contribution plan if they wish. Full-time employees cannot opt-out of the retirement fund. The HR department sends you an updated Excel file, an excerpt of which is shown below:

Table 2: (Revised) Excerpt from Excel file of employees

	A	B	C	D	E
1	Name	Status	Basic Salary	Participate	Retirement Deduction
2	John Smith	Full-time	$24,812.00
3	Mike Peterson	Part-time	$6,500.00	Opt-Out
4	Paul Markov	Full-time	$66,400.00
5	Peter Petrov	Part-time	$7,000.00	Opt-Out
6	Ivan Andonov	Part-time	$8,600.00

Using the information above, complete Table 2 by:

• Writing a new logical Excel statement (IF function) in the last column of the spreadsheet, which computes the retirement deduction for the first employee and can be copied all the way down the list of employees. The logical statement must take into account the employees status, basic salary, and the possibility that some part-time employees may choose to opt-out.