A company without any debt is expected to generate $$50$ million in free cash flow every year for $6$ years and will then shut down. You are thinking of buying the company for $$158\mathrm{.}12$ million, partly financed with $$50$ million in debt. The debt carries an interest rate of $8\%$ and is to be repaid in $6$ equal, end$-$of$-$year payments.

Part $1($Solved$)$: What is the yearly debt payment $($in $ million$)?$ Answ: $10\mathrm{.}82$ million

Part $2($Need help$)$: What is the annual free cash flow to equity $($in $ million$)?$

Part $3($Need help$)$: What is the internal rate of return on the equity investment?