Part 1 (80 Points): Calculations and Sparkline Chart 1) (10 points) Write a formula for the Gross Pay column for each employee using the IF function: a. 40*(Rate per Hour)+(Hours Worked-40)*1.5*Rate per Hour if Hours Worked is larger than 40; b. Rate per Hour*Hours Worked if Hours Worked is less than or equal to 40. 2) (20 points) Enter the value of the Federal Tax Rate at B17 as the first two digits of your University ID in percentage. For instance, if your ID is 1234567 than enter 12%. 3) (20 points) Enter the value of State Tax Rate at B18 as the last digit of your University ID in percentage. For instance, if your ID is 1234567 than enter 7%. If the last digit is 0, then enter %10. 4) (10 points) Write a formula for the Federal Tax column of each employee as Federal Tax Rate*Gross Pay. 5) (10 points) Write a formula for the State Tax column of each employee as State Tax Rate*Gross Pay. 6) (10 points) Write a formula for the Net Pay column of each employee as Gross Pay-State Tax- Federal Tax. 7) (10 points) Calculate the total, average, highest and lowest values of Withholding Allowances, Rate per Hour, Hours Worked, Gross Pay, Federal Tax, State Tax and Net Pay in the labeled rows using the appropriate formulas. 8) (10 points) Format your worksheet similar to the Example Answer.