1. a. b. c. d. e. UESTION 1 (60 points) Based on the assumptions listed below, please compute the DCF per-share value of the equity of Alpha Company and place your answer in the space provided below. Answer Format example: DCF per-Share equity value of Common stock = S (Your score on Question I is based on the percentage deviation between the correct answer and your answer that is entered.) DCF Assum tions for TNT Com an Express sales, etc. in millions (so that $1 billion is expressed as $1,000 in the spreadsheet) and use 2 decimals, except use 4 decimals for the discount factor (which equals 1/ WACC), to replicate my numbers exactly. Howe ver, normal rounding variation should not affect your score. Use end-of-year discounting method. Appraisal date is 1/1/20, and Forecast Period is 2020 through 2024 inclusive. Sales are forecasted to be $80 million for 2020, and sales (nominal) are projected to increase 40% each year in the forecast period through 2012. Sales growth (nominal) in the perpetuity period is projected to be 5% annually. Actual 2019 were $50 million. Accounts Receivables were $30 million, Accounts Payables were $25 million, and Inventory was $5 million as of 12/31/19 EBIT margin is projected to be in 2020, in 2021, in 2022, 45% in 2023, for 2024, and 40% for all years thereafter. The income tax rate is expected to be 40% in the forecast and perpetuity periods.