12(5) The squid business is a permanent investment that invests 50 billion won in the early stages of the project and 4 billion won every year. Should I run a squid business with a debt-to-equity ratio (B/S=4)? Calculate NPV and answer. However, the CAPM is established annually, and the average annual return rate ( ) for the market portfolio is 3% and the risk-free interest rate ( ) is 2% annual. And the corporate tax rate of all businesses is 50%, the risk ( ) of Gangwon, which runs the squid business, is 1 and the debt ratio is (B/S=2). (1) Show the calculation process and answer (up to 1000). Continue at (2). Should I run a squid business with a debt-to-equity ratio (B/S=9)? Calculate NPV and answer.