A project has the following forecasted cash flows:

The estimated beta is $1\mathrm{.}48.$ The market return is $16\%,$ and the risk$-$free rate is $7\%.$

a$.$ Estimate the cost of capital for the project and the project's PV$.$

b$.$ What are the certainty equivalent cash flows in each year?

c$.$ What is the ratio of the certainty$-$equivalent cash flow to the expected cash flow in each year?

Complete this question by entering your answers in the tabs below.

Estimate the cost of capital for the project and the project's PV$.$

Note: Do not round intermediate calculations. Enter your cost of capital answer as a percent and enter your PV answer in

thousands. Round your answers to $2$ decimal places.