Please show excel formulas

2. Assuming a 40% tax rate, what is Threshold worth? Assume that Threshold will not need any additional net working capital (NWC) in Year 2001. but will need an additional $95,000 NWC each year from 2002 to 2005. (Note: The "Profit (loss) from racing events" line in Exhibit 3 comes from Exhibit 2. Also, Exhibit 3 has some issues with terminology. The "Net profit" line is not really net profit. Moreover, it would be better to use "revenue" in place of "income". Also, there is a major error in the choice of items to list under "Expenses". See if you can spot the error and correct for it in your analysis. Your analysis will require use of the growing perpetuity/constant growth model in order to estimate a terminal value for your cash flows. Show your work for this question in an Excel attachment.) Exhibit 2 THRESHOLD SPORTS, LLC Note: Pre-event consulting income refers to fees generated from consultina .... for a municinality. Oneratione C Exhibit 3 THRESHOLD SPORTS, LLC Estimated Fee Income and Loss, 2001-05 (in thousands) 2. Assuming a 40% tax rate, what is Threshold worth? Assume that Threshold will not need any additional net working capital (NWC) in Year 2001. but will need an additional $95,000 NWC each year from 2002 to 2005. (Note: The "Profit (loss) from racing events" line in Exhibit 3 comes from Exhibit 2. Also, Exhibit 3 has some issues with terminology. The "Net profit" line is not really net profit. Moreover, it would be better to use "revenue" in place of "income". Also, there is a major error in the choice of items to list under "Expenses". See if you can spot the error and correct for it in your analysis. Your analysis will require use of the growing perpetuity/constant growth model in order to estimate a terminal value for your cash flows. Show your work for this question in an Excel attachment.) Exhibit 2 THRESHOLD SPORTS, LLC Note: Pre-event consulting income refers to fees generated from consultina .... for a municinality. Oneratione C Exhibit 3 THRESHOLD SPORTS, LLC Estimated Fee Income and Loss, 2001-05 (in thousands)