a. Value the company's equity. (5 points) in. The model in Part A includes cost of goods sold but not selling, general. and administrative (SG & A) expenses. Suppose that the rm has $200 of these expenses each year, irrespective of the level of sales. Change the model to accommodate this new assumption. Show the resulting income statements, balance sheets. the free cash flows (FCF), and the valuation. (5 points)