1- The following data will be used to answer the questions for the exam:

JYP Entertainment is Korean Pop Mass Management firm based out of Seoul, Korea. In FY 2018 they generate KRW 98,805,000,000 in revenues, with 56,321,000,000 in EBITDA and 15,210,000,000 in Net Income. For their balance sheet, the company has KRW 125,419,000,000 in Assets and KRW 75,630,000,000 in Liabilities, with KRW 32,115,000,000 of that being Debt. Sales growth was expected to be 22% for the next five years followed by 4.35% thereafter. EBITDA and Net Margins (im not specifically giving you them initially, hint hint) are expected to grow by 1% per year for the next five years before hitting their long term steady state (if margins were 34%, the next year would be 35%). Depreciation is krw 950,400,000, and will grow by 5% for the next three years. Fixed Capital Investment will be initially 60% of depreciation and will grow by 10% per year until reaching a steady state of 100% of depreciation. Working Capital Investment was 4.7% of Sales in 2018 and will remain as such ongoing. The average coupon rate is 6.5% on the debt outstanding while they are expecting to pay down debt by KRW 5,650,000,000 per year for three years starting in 2019. The company's tax rate has remained a steady 27.86%. The company has historically maintained a market capitalization with weightings based on their initial balance sheet values of equity and debt, with their cost of debt being equal to what they pay in interest expense. The company currently trades at a 1.67 beta to the KOSPI index, which has returned on average, 8.7% for the past decade. The Korean overnight lending rate is currently 3.2% annualized. The company maintains a 35.4% dividend payout ratio. The longer term WACC and cost of equity are 7.5% and 10.25% respectively.

What is the company's book value of equity?

2- What is the initial cost of equity based off the CAPM? Please put in your answer in percentage form (if answer is 10.25%, please submit 10.25). Please input to two decimal places.

3- What is the initial WACC based assuming that the initial market values for equity and debt are based off the initial balance sheet values. Please put your answer in percentage form (if answer is 10.25%, please submit 10.25). Please input to two decimal places.

4- Using the FFCF model, what is the value of the company? Assume your shorter term rate is represented by the high revenue growth phase and the longer term rate applies to the longer term lower revenue growth phase.