Assume that the cost of capital is 20% for all companies (which are highly similar to each other). a) Calculate the expected operating income growth rate for firm X,Y and Z. (3 marks) b) Rank these firms in the order of least value growth to most value growth. c) Explain your answer in (b). Question 4 Explain the major differences between private to private transactions and private to public transaction in private company valuation. Question 5 When would you use the following growth patterns in your DCF valuation model? a) Stable growth model. b) 2-stage growth model. c) 3-or n-stage growth model