Please solve using financial formulas in Excel. 1) Delicious Co. gives customers a free bonus pound of deli meat after accumulating 11 total pounds in purchases. The free bonus pound of deli meat is a liability. However, the liability is not tax deductible until the customer redeems the free bonus pound of deli meat. Tax rate = 21%.

By the year end 2013, customers redeemed $1,100,000 in free bonus pounds of deli meat. Delicious Co. also has new liabilities of $1,200,000 for free bonus pounds of deli meat customers could redeem in 2014.

Calculate the tax liability due for the year ended 2013.

Please solve using Excel financial formulas wherever it applies and show work in Excel. 2)

Delicious Co. gives customers a free bonus pound of deli meat after accumulating 11 total pounds in purchases. The free bonus pound of deli meat is a liability.

During 2013, customers redeemed $1,100,000 in free bonus pounds of deli meat. However, the liability is not tax deductible until the customer redeems the free bonus pound of deli meat.

Delicious Co. also has new liabilities of $1,200,000 for free bonus pounds of deli meat customers could redeem in 2014.

What is the deferred tax asset from the redemption of free bonus pounds of deli meat and from incurring liability for future free bonus pounds as of year end for 2013?

Please solve using Excel financial formulas wherever it applies and show work in Excel.