$6-$ When producing an unlevered free cash flow estimate for a potential target company, after you have determined the target$$s EBIAT $($Earnings before interest after tax$)$ in addition to accounting for any changes required for working capital you must $\_\_\_\_\_\_\_\_\_$ depreciation and $\_\_\_\_\_\_\_\_\_\_$ capital expenditures.

Group of answer choices

a$.$ Subtract, add

b$.$ Subtract, subtract

c$.$ Add, add

d$.$ Add, subtract

$7.$ The reason you would want to unlever betas when looking at peers$/$comps in your M&A analysis, is to remove the impact of $\_\_\_\_\_\_\_\_\_$ and focus on the respective companies$$ pure $\_\_\_\_\_\_\_\_\_\_\_$ variability.

Group of answer choices

a$.$ Systemic risk, debt

b$.$ Capital structure, asset

c$.$ Capital structure, debt

d$.$ Governance, R&D

$11-$ When calculating the equity portion of a weighted average cost of capital $($WACC$)$ to use when discounting projected cash flows, which of the following should be used in your calculation:

Group of answer choices

a$.$ Book value of equity

b$.$ The stock$$s trailing P$/$E ratio

c$.$ Equity as a $\%$ of the capital structure

e$.$ B and C