2. Galatasaray Soccer Club has $10 million debt outstanding due next year and currently has $8 million cash. Galatasaray has no other assets. Assume that Galatasaray can recruit a superstar soccer player Ronaldo for $9 million. Ronaldo will generate a revenue of $10 million next year. However, Galatasaray sharehodlers need to add additional $1 million from their own capital if they want to hire Ronaldo. Will Galatasaray shareholders hire Ronaldo? Do debtholders of Galatasaray prefer hiring Ronaldo? Fenerbahce Soccer Club has no debt and has $9 million in its bank account. Will fenerbahce hire Ronaldo? Please show your work. (Assume that discount rate is zero). [15 points]

Can this be done in Excel with equations please?