Can you help me with the question b and c.

Maple Telecom is in significant financial trouble. It reported operating losses of $ 20 million in the most recent year on revenues of $ 100 million. The total book value of capital invested in the firm today is $ 190 million. Assuming that the firm will revert back to health in 3 years, you have forecast revenues, after-tax operating income and reinvestment, as well as the cost of capital:

a. Estimate the present value of the free cash flows to the firm over the first 3 years. (1 point)

b. Estimate the after-tax return on capital in year 3 (Return on capital in year 3 is defined as EBIT(1-t) in year 3/ Book value of capital at the end of year 3). (1 point)

c. Estimate the terminal value of the firm at the end of year 3, assuming that the firm will be able to grow at 2.5% a year and maintain the return on capital and cost of capital it had in year 3. (2 points) d. Maple Telecom has $ 25 million in cash and debt with a market value of $ 75 million. If there are 20 million shares outstanding, estimate the value of equity per share. (1 point)

\begin{tabular}{|l|c|c|c|} \hline & Year 1 & Year 2 & Year 3 \\ \hline Revenues & $150 & $160 & $180 \\ \hline EBIT (1t) & $15 & $15 & $25 \\ \hline + Depreciation & $15 & $20 & $25 \\ \hline - Cap Ex & $5 & $25 & $40 \\ \hline FCFF & $5 & +$10 & $10 \\ \hline Cost of capital & 14% & 12% & 10% \\ \hline \end{tabular}