Q$4\mathrm{.}1$ Use the flow$-$through principle to determine the percentage black ownership for each company $(\backslash (1-5\backslash )$ only$).(5$ Marks$)$ Q$4\mathrm{.}2$ From your findings above, which companies may you apply the modified flow through principle to$?(4$ Marks$)$ Q$4\mathrm{.}3.$ Please apply the modified flow through principles to the companies listed above and use this information to determine by showing all your options and selecting the best option to maximise the percentage black ownership of the measured entity. $(6$ Marks$)$ Q$4\mathrm{.}4$ Using the information above, please calculate the points for voting rights and economic interest of black people only. $(4$ Marks$)$ Question $5(14$ Marks$)$ A $100\backslash \%$ Black owned company buys $\backslash (25\backslash \%\backslash )$ of Jacks Properties Pty Ltd company for R $100$ million. This is $45\backslash \%$ funded by a mixture of vendor financing and third$-$party finance. At the time of acquisition Jacks Properties Pty Ltd was valuated at R $380$ million. On the $3$rd year from the date of this transaction Jacks Properties Pty Ltd was valuated at R $450$ million and the Black owned company still had $25\backslash \%$ equity but there was only $20\backslash \%$ still funded of there initial investment of R $100$ million. Q$5\mathrm{.}1$ Calculate Net Value in year $1(7$ Marks$)$ Q$5\mathrm{.}2$ Calculate Net Value in year $3(7$ Marks$)$