Your company is looking to provide a company car for its president and needs to know which option, buy or lease, would be the best financial decision. Part I. Design and create a workbook in Excel to compare the purchase versus lease of an automobile. The car the company wish es to purchase is $18,400. M onthly net income (after taxes) is $3,024. You need to decide whether to lease the car over three years or buy the car with the aid of a bank loan for $18,400. Design and create your solution using Excel. Format your workbook attractively and appropriately based on professional design principles learned in this course . You must use proper functions and formulas for all calculations . Name the worksheet Vehicle Purchase Analysis . Be sure your calculations support your conclusions. Save your file as Exam III Item 1. The following information is provided: If the company was to lease the vehicle with zero down, the lease payment would be $355 per month. At the end of the three years, there is an option to buy the vehicle for $12,000. What would be the total cost to own the vehicle at the end of three years? If the company was to purchase the vehicle with the aid of a bank loan with zero down for three years (inter est rate is 7%), what would the monthly payment be? What would be the total cost to own the vehi cle at the end of three years? Ho w much would the company pay, over and above the price of the vehicle, for each option? What do you recommend as the best financial alternative : purchase or lease? W hich option would you recommend the company choose and why? What other factors should be considered in the decision OTHER THAN cost ? Create an attractive chart to illustrate your financial findings. Be sure to use appropriate labels. Which chart type did you choose and why? Perform all analysis using Excel. Answer the questions within your Excel workbook. Part 2. Amortization Schedule. Create a new worksheet within the Exam III Item 1 file and name it Amortization Schedule . Assume the vehicle was purchased and the payback period was 3 years. Design and create an amortization schedule with a column indicating the # of the payment (there will be a total of 36 payments), the remaining principal, the amount of the payment applied to interest, the amount of the payment applied to principal, and the total amount of the monthly payment (will be consistent over the payback period). Use ppmt and ipmt function for the payment and interest portion of each payment. Save your file as Exam III Item 1 . Item 2 Data Tables and Scenarios Rogers Party Planners You are the sole proprietor of a small party planning company that specializes in small community and company events (average of 200 people per event) . You have one employee who you pay $200 per party. You are also responsible for paying payroll taxes. You rent a small storage unit which you use for storing party mate.