Please use excel to attempt the qustion

Part 2 (40 points) Xeret Industries manufactures and sells an industrial lift that is used primarily for facility maintenance (cleaning, painting, light repair work, etc.). The company has a loyal customer base because of the quality of its product and its trade-in program. Xeret gives its customers a trade-in credit whenever they trade-in an old lift and purchase a new one. Xeret refurbishes these old lifts at a cost of $1000, and then sells them as used lifts to other customers. Xeret's cost for producing a new lift is $7000. Other customers who need to purchase additional lifts will consider purchasing a new lift at the full retail price or a used lift at the lower used price. The only used lifts available for sale are those that the company obtains and refurbishes through its trade-in program. The prices and trade-in allowance that Xeret chooses to offer affect the amount of demand for its lifts and ultimately its bottom-line. The company uses the following formulas to compute projected demands: Trade-In Demand = 1,000 -0.10Retail Price +0.10 Trade-In Credit, New Retail Demand = 1,000 -0.10Retail Price +0.05x Used Price, Used Demand = 0.05x Retail Price -0.10 x Used Price. Xeret is planning to sell its new lifts at a retail price of $9000, to sell its used lifts at a price of $3500, and to offer a trade-in credit of $1300. a. (20 points) Create a base case to determine which input parameters have the biggest impact on total profit? Part 2 (40 points) Xeret Industries manufactures and sells an industrial lift that is used primarily for facility maintenance (cleaning, painting, light repair work, etc.). The company has a loyal customer base because of the quality of its product and its trade-in program. Xeret gives its customers a trade-in credit whenever they trade-in an old lift and purchase a new one. Xeret refurbishes these old lifts at a cost of $1000, and then sells them as used lifts to other customers. Xeret's cost for producing a new lift is $7000. Other customers who need to purchase additional lifts will consider purchasing a new lift at the full retail price or a used lift at the lower used price. The only used lifts available for sale are those that the company obtains and refurbishes through its trade-in program. The prices and trade-in allowance that Xeret chooses to offer affect the amount of demand for its lifts and ultimately its bottom-line. The company uses the following formulas to compute projected demands: Trade-In Demand = 1,000 -0.10Retail Price +0.10 Trade-In Credit, New Retail Demand = 1,000 -0.10Retail Price +0.05x Used Price, Used Demand = 0.05x Retail Price -0.10 x Used Price. Xeret is planning to sell its new lifts at a retail price of $9000, to sell its used lifts at a price of $3500, and to offer a trade-in credit of $1300. a. (20 points) Create a base case to determine which input parameters have the biggest impact on total profit