a) CurryCurry is a listed firm with $500 million debt outstanding. It has operating lease commitments of $250 million a year for the next 3 years (years 1-3), and $ 200 million a year for the following 3 years (years 4-6). All lease payments are expected to be paid at the end of each year. The cost of debt is 7%. You have decided to capitalize the operating lease commitments. Estimate the total adjusted debt value for the firm. (4 marks)

b) SUNeTron reported that it derived 80% of its revenue from Hong Kong and the rest from US market. Given that Hong Kongs equity risk premium is 10% and mature market equity risk premium is 6%, estimate the total equity risk premium for SUNeTron using operation-based approach. (4 marks)

c) Estimate the risk-free in Indian Rupees based on the following information: - Brazilian government bond rate in Rupees: 9.9%. - CDS Spread for India (6.0%) - CDS Spread for US (1.0%) - CDS Spread for Argentina (6.5%)