5) Answer next three questions based on following information Champion Ball Inc. is a venture firm developing new golf ball which can drastically improve the amateur golfers' game. It needs $5 million for test production and marketing. A venture capitalist is willing to provide the fund, but his required return is 40%. Champion Ball Inc. is unlikely to generate any positive cash flow for next 5 years, but if everything goes as planned, it will have EBITDA of $10 million at the end of 5 year, and its enterprise value will be 6 times EBITDA. Champion Ball Inc. will be debt free through 5 years. 5-1) What is the minimum percentage of the company's equity that the venture capitalist demands to have 40% investment return? 5-2) What is the value of this company after the funding based on the deal structure and valuation by a venture capitalist? 5-3) Suppose the venture capitalist offers a different contract of convertible preferred stock, which requires $0.5 million annual dividend. What is the minimum percentage of the company's equity that the venture capitalist demands to have 40% investment return