I need some assistance with this question. Please work in Excel.

1. Columbus, Ohio advertised for bids for the purchase of $4.5 million principal amount of Waste Water Revenue Bonds. Bonds will be delivered on June 1, 2023, and the interest will be paid on June 1" of the following years. The bonds mature as follows: Maturity Amount Date (S) 6/1/2028 150,000 6/1/2029 200,000 6/1/2030 200,000 6/1/2031 250.000 6/1/2032 300,000 6/1/2033 300,000 6/1/2034 350,000 6/1/2035 450,000 6/1/2036 500,000 6/1/2037 800,000 6/1/2038 1,000,000 The City received three competing bids for the Waste Water Revenue Bonds. The three offers are as follows: From Rogue Securities: The City receives $4.2 million dollars . The Interest Rates for the serial bonds with maturities: o 2027 through 2030, 3.33 percent o 2031 through 2037, 4.00 percent From Johnson-Miller: The City Receives $4.5 million dollars The Interest Rates for the serial bonds with maturities: 2027 through 2029, 2.75 percent 2030 through 2034, 3.28 percent 2035 through 2037, 4.50 percent From Shostak Corp: The City receives $4.55 million dollars The Interest rates for the serial bonds with maturities: o 2027 to 2033, 3.45 percent o 2034 to 2037, 4.25 percent For each bid, compute the net interest cost (NIC) and the true interest cost (TIC). Which bid is more advantageous for the city