Alpha Inc., Beta Inc. and Gamma Inc. are three companies with shares listed in the stock exchanges in Italy, France and Greece respectively. An analyst collects the following information about the three companies. Company Beta Risk-free rate Alpha Inc. 0.74 4.90% Beta Inc. 1.00 6.00% Gamma Inc. 1.07 4.75% The US equity risk premium is 4%. What is the estimate for Alpha Inc.'s cost of equity capital? Free cash flow is a Free cash flow is a Select one: a. value reallocation concept b. value destruction concept c. value distribution concept O d. value creation concept