The following formula was entered into an Excel worksheet: =B5**12. Which of the following statements are true with respect to this formula?
1) The formula calculates the value of B5 raised to the power of 12
2) The formula calculates the value of B5 multiplied by 12
3) The formula calculates the value of B5 divided by 12
4) The formula calculates the value of B5 subtracted by 12