Solve each problem using Excel. Show both the solution and the formula you used by putting an apostrophe in front of the equals sign. Be sure to write a sentence explaining your answer for each problem. (Note: There is no template for this assignment.) 1.Harper Hospital is considering bids from two contractors to renovate its endocrinology unit in order to enhance efficiency and increase patient satisfaction. Contractor 1 bid $260,000 for the job. The renovations would be guaranteed for 15 years with annual maintenance costs of $11,500 per year. Contractor 2 bid $305,000 for the job and would also guarantee the renovations for 15 years. The annual maintenance costs would be $7,500 per year if Harper Hospital selected Contractor 2. All maintenance costs are paid at the end of each year. a.Assuming Harper Hospital uses a discount rate of 5.50%, which contractor should the hospital choose