Excel project #2FIRST, DOWNLOAD THE EXCEL WORKBOOK POSTED TO BLACKBOARD, NAMING IT APPROPRIATELY:Lastname.Firstname.Excel1, or Lastname.Lastname.Lastname.Excel1 (for those working in a group of 3 people). Examples: Kaciuba.Gail.Excel1 orKaciuba.Eynon.Smith.Excel1You are to prepare two depreciation schedules using Excel. Proper use of relative and absolute cell referencing, as demonstrated in class, is expected. Each studentwill use a different cost, salvage value, and useful life. This information is posted to Blackboard. Be sure to use the cost, salvage value, and useful life for theasset assigned to you. Assume the asset was purchased on January 1 of Year 1.You must create the template to calculate Depreciation Expense Accumulated Depreciation, and net Book Value for each year of the asset?s life for (1) the straight linemethod and (2) the double declining balance method. Show both depreciation schedules on one tab. At the top of this tab, put the given information:Cost of machine This cell will contain a cell reference to the given infoSalvage value This cell will contain a cell reference to the given infoDepreciation value This cell will contain a cell reference to the given infoUseful life This cell will contain a cell reference to the given infoDDB rate This cell will contain a formulaEach of your depreciation schedules will look like this:Year Depreciation Expense Accumulated Depreciation Net Book Value123???Every shaded cell will contain a formula or a cell reference. You must use absolute cell referencing where possible. Each schedule should have a row for every year ofthe asset?s life. All cells must be appropriately formatted as well. Additionally, format the spreadsheet for proper printing (even though you don?t have to print itout). Just use the print preview button to make sure that a printout would be usable and look good.!
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