Spreadsheet Problem. Use the Ch7_Rent_vs_Own worksheet in the Excel workbook provided on the website. Determine the after-tax IRR for owning versus renting in each of the five years with the following changes in the original assumptions in the spreadsheet: a. The homeowner has a 15 percent marginal tax rate instead of 28 percent. b. Rents and property values will not increase over the five years. c. The loan amount is $105,000 instead of $120,000. d. The initial rent for year 1 is $15,000 instead of $12,000.

Suppose the following items were taken from the 2017 financial statements of whispering winds corp.. (all dollars are in millions.) common stock $3,230 accumulated depreciation—equipment $3,940 prepaid rent 175 accounts payable 1,560 equipment 6,940 patents 2,270 stock investments (long-term) 670 notes payable (long-term) 780 debt investments (short-term) 1,740 retained earnings 6,175 income taxes payable 150 accounts receivable 1,740 cash 1,290 inventory 1,010 prepare a classified balance sheet in good form as of december 31, 2017. (list current assets in order of liquidity.)