REQUIRED: $1\mathrm{.}1.$ Perform a free cash flow valuation and determine the current value of each Gamma Ltd ordinary share. Round to two $(2)$ decimal places if applicable. $(43$ marks$)$ Communication skill: Structure and Layout$(1$ mark$)1\mathrm{.}2.$ Calculate the weighted average cost of capital of Extreme Ltd$.$ Round to two $(2)$ decimal places if applicable. $(10$ marks$)1\mathrm{.}3.$ Limited to the information provided in the scenario, identify and explain the relevant financial risk that both Gamma Ltd and Extreme Ltd as individual entities are exposed to$.$ Supplement your answer by providing one recommendation on how the entity can protect itself against the relevant financial risk. $(4$ marks$)1\mathrm{.}4.$ Calculate the Price$-$Earnings ratios of both Gamma Ltd and Extreme Ltd$.(4$ marks$)1\mathrm{.}5.$ Although a bid offer of two Gamma Ltd shares per five Extreme Ltd shares has been made, Gamma Ltd does not wish for its earnings per share to be diluted after the merger. Calculate the appropriate exchange rate which should be agreed to$,$ to achieve this goal. $(2$ marks$)$