Please, complete the exercise in an EXCEL SPREADSHEET given the information below: You MUST complete it in an excel and upload an excel (there is something wrong with my formula and I can't find what is it - so I want to compare it with another excel)

A-

| 9 : | Untitled - Paint X File Home View to Cut t crop WOODGA . Outline Copy Resize Paste Select Rotate Brushes Size Color Color =dit Edit with 2 colors Paint 3D Clipboard Image Tools Shapes Colors - - - - - PROBLEM 5-8 a. First Solve for EBIT that is consistent with Project FCF (see rows 23-27). Initial cost 100,000,000.00 Solution Legend Project FCF (1-30 yrs) 8,000,000.00 = Value given in problem Book debt 80,000,000.00 = Formula/Calculation/Analysis required Assume capex = depreciation Assume perpetual cash flows 35.00% tax rate 7.00% Interest rate on debt 9.94% cost of equity EBIT Interest To complete part a: EBT 1. Start by a hypothetical EBIT: enter a random number in C23. : Tax (35%) 2. Fill in C24 and C25 with formulas that calculate Taxes on EBIT and NOPAT NI 3. For the project FCF in C26, set it to the value given in the assumption section. : Equity FCF 4. "Diff" in C27 is the difference between NOPAT and project FCF. 5. Then move up to EBIT in C16: set it to equal the EBIT in C23. EBIT $387,940.00 6. Fill in C17 to C21 with formulas. 7. Lastly apply Goal Seek: since this project does not entail depreciation, CAPEX, or change in ONWC, Tax on EBIT project FCF should only consists of NOPAT. Therefore, "Diff" in C27 should equal zero. Thus, in Goal Seek, NOPAT set "Diff" to zero, by varying EBIT in C23. Project FCF Diff 1902 x 803px 100% + Type here to search 18 W @ x 2:46 PM Earnings upcoming 3/10/2023| 9 : | Untitled - Paint X File Home View 6 Cut t crop WOODGA . Outline Copy Resize Paste Select Rotate Q Brushes Size Color Color Edit Edit with 1 2 colors Paint 3D Clipboard Image Tools Shapes Colors AFTER 30 iterations the imputed value of equity converges to the trial value of the equity Trial value Value of project Imputed value To complete part b Iteration Number Book debt of equity WACC based on WACC of equity diff 1. In row 32, start with a trial value of equity that equals the book value of equity. 1 80,000,000.00 2. Fill in WACC (E32) with formula. 80,000,000.00 3. Project value based on WACC (F32) should be calculated as project FCF divided by WACC 80,000,000.00 so enter formula accordingly. 4. Imputed value of equity (G32) should be the difference between project value (F32) and the 80,000,000.00 book value of debt (C32). 80,000,000.00 5. "diff" (H32) should be the difference between imputed value of equity and trial value of equity 80,000,000.00 5. Move on to row 33, trial value of equity should equal the imputed value of equity from the 80,000,000.00 previous iteration (G32). 6. WACC, value of project based on WACC, imputed value of equity and diff should be 80,000,000.00 the same 80,000,000.00 7. Complete the rest of the rows. 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 80,000,000.00 21 80,000,000.00 . 997, 693px 12 x 1px 1902 x 803px 100% + Type here to search 2:47 PM 18 9 71.F Mostly cloudy 3/10/2023| 9 - | Untitled - Paint X File Home View to Cut t crop WOODGA . Outline Copy Resize DODOD 42 - Fill Paste Select Rotate Brushes Size Color Color =dit Edit with 1 2 colors Paint 3D Clipboard Image Tools Shapes Colors The same iterations could be worked out in one step using SOLVER TOOL To complete row 73: Trial value of Value of project Imputed value Iteration Number Book debt equity WACC based on WACC of equity diff 1. Start with a trial value of equity (D73) with any random number, for example, the book value $ of equity. Note that you should mannual enter the number without an equal sign. 80,000,000.00 2. Fill in WACC, project value based on WACC, imputed equity value, and diff with formula as in part b. 3. Apply Goal Seek: set diff (H73) to zero by changing trial equity value (D73). c. We solve this part using solver Project FCFs are growing at 2.5% 2.50% To complete part c, follow the same procedure used in row 73, with one difference: Trial value of Value of project Imputed value Iteration Number Book debt equity WACC based on WACC of equity diff With the constant growth rate of 2.5%, project value based on WACC should equal to project 80,000,000.00 FCF/(WACC-growth rate). Project WACC Project Value 1920 x 1080px 100% + 2:48 PM Type here to search 18 W 71.F Mostly cloudy 3/10/2023