$1.$ Calculate the WACC for Salah Enterprises given the proposed take$-$over plans.

$2.$ Calculate the estimated value of Salah Enterprises using the discounted cash flow approach:

a$.$ Estimate the free cash flow for Years $1$ to $5($assume that Year $1$ is $31$ January $2021).$

b$.$ Calculate the terminal value $($as at end year $5)$ based on year $5$ free cash flows.

c$.$ Calculate the terminal value $($as at end of year $5)$ based on year $5$ total free cash flows.

d$.$Estimate the Enterprise value.