Please explain clearly

Problem 5: Company Valuation - Theory (6 Points) In the lecture, you have learned about the Adjusted Present Value (APV) - approach. The formula underlying this approach is given below in its general form. E(CF ) (1 - T) E(CF,., )(1 - T) T . RD . Dt-1 , T . RD . Dr 1 V = + (1 + WACC) WACC (1 + WACC)T 1= 1 (1 + RD) * RD (1 + RD) Part 1 Part 2 a) State the names and explain the economic meaning of the two parts in the APV formula which are denoted by "Part 1" and "Part 2". (6 points) 4