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You have been asked to value AstraMonika, a Biopharmaceutical company and have come up with the following inputs. . Base Year Information (2020) Earnings before interest and taxes in 2020 $600 milion Capital expenditures in 2020 = $120 milion Depreciation in 2020 = $100 million Revenues in 2020 = $6,000 million Working capital as percent of revenues = 20% Tax rate = 40% . = . High-Growth Phase Length of high-growth phase = 5 years Expected growth rate in FCFF=15% Beta = 1.30 . Cost of debt = 8% (pre-tax) Debt ratio = 30% - Risk-free rate = 7% Market Risk Premium (MRP) = 6% Stable-Growth Phase Expected growth rate in FCFF- 3% - Beta = 1.5 - Cost of debt =7% (pre-tax) - Debt ratio = 25% Risk-free rate 7% Market Risk Premium (MRP) = 6% 36 of 40 What is your estimate to the appropriate discount rate during high-growth period? O A 10.25% OB 11.80% O C. 12.23% OD 13.05% O E. None of the above Unsure