QUESTION $1(64$ marks$)$ Gamma Ltd $("$Gamma$")$ and Extreme Ltd $("$Extreme$")$ are both entities in the retail clothing sector. Gamma has recently announced a takeover bid for Extreme. According to the bid, two Gamma shares will be offered for every five Extreme shares. Following are the most recent annual financial figures of the two entities:Gamma $($R$)$Extreme $($R$)$Taxation allowable deprecationEarnings before interest and taxationEarnings before taxationAnnual capital investment expenditureGearing $($Long term debt $/$ Long term debt plus equity by market value$)$Costs of fixed interest debt before taxation