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1. (20 points) North Pole Enterprises, Inc. (NP) has developed a business plan and is on the brink of profitability. NP believes that it will be profitable in 5 years, at which point, it will produce $12 million of Net Income (in yr 5), and subsequently go public. Comparable companies are trading at approximate 17x Net Income. Kringle Capital is considering investing $8.5 million in NP and its LPs require a 55% rate of return. NP has 3,500,000 shares outstanding. What percentage (%) of NP would Kringle own at exit, how many shares would Kringle receive today and at what price/share? 1. (20 points) North Pole Enterprises, Inc. (NP) has developed a business plan and is on the brink of profitability. NP believes that it will be profitable in 5 years, at which point, it will produce $12 million of Net Income (in yr 5), and subsequently go public. Comparable companies are trading at approximate 17x Net Income. Kringle Capital is considering investing $8.5 million in NP and its LPs require a 55% rate of return. NP has 3,500,000 shares outstanding. What percentage (%) of NP would Kringle own at exit, how many shares would Kringle receive today and at what price/share