Please answer question #2 with the formulas on the excel sheet!

JTM Airlines, a privately held firm, is looking to buy additional gates at its home airport for $1,500,000. It has money in the bank, but that money may not be spent as it is used to pay salaries, suppliers, and equipment. It asked its bank for a loan, but the bank refused unless the project had a return higher than JTM's weighed average cost of capital. Separately, PAN Airways's CEO approached JTM's CEO to sell the airline. As a result of all this, JTM has contracted you to: 1. Calculate JTM's weighed average cost of capital (WACC) based on two airlines trading in the capital markets - PDM and GAL. Since JTM does not trade, it has no beta, so you need to use these two firms as proxies. JTM's CFO kindly gave you the necessary information on PDM and GAL for you to do this. 2. Aside from the purchase price, the gates will require a working capital infusion of $1,500,000 at purchase. JTM estimates the gates will generate cash flows of $295,500 in year 1, inflating at 4%/year over the next 12 years. After that, the gates will revert back to the airport operator. Half the working capital is recovered at the end. Calculate the NPV and IRR of the gates. C10 Formatting Styles Dette Format Thamed A C Year 1 Start D Year 2 H Year 3 F Year 4 G Year M O Your Year 2 Year Year Year 10 N Yac 12 Investment Working Capital Operating Cash Flow Total Cash Flow 1.500.000 795,500 NPV IRR 3 1 2 3 4