Assume the date is $12/31/2022.$ FishHQ is a manufacturer of high$-$quality fly$-$fishing gear with an avid customer base that is willing to pay premiums over competing firms$$ prices to purchase FishHQ products. As of $12/31/2022,$ FishHQ has working capital worth about $400$ and fixed assets with a book value of $1,000.$ The market value of the fixed assets is about $5,000.$ FishHQ had sales of $4,500$ in $2022$ and is expecting higher sales in $2023.$ COGS typically runs about $65$ cents on a dollar of sales. SG&A expense is typically $15$ cents on a dollar of sales and is expected to total $750$ in $2023.$ Depreciation expense is included in both COGS and SG&A$.$ In $2023,$ FishHQ plans to invest $$75$ in long$-$term assets. Furthermore, in $2023$ they also plan to invest $$50$ in WC$.$ In addition, as part of the financing plan for $2023,$ FishHQ plans to increase excess cash by $$225($note that all cash at FishHQ is considered excess cash$).$ As of the end of $2022,$FishHQ had bonds outstanding with a book value of $$2,000.$ The book value of the bonds is lower than the market value of the bonds. FishHQ had no other debt at the end of $2022.$ The bonds are of various maturities and have an average yield$/$interest rate of $7\%.$FishHQ has promised and expects to pay its bondholders a total of $$200$ in coupon payments in $2023.$ In addition, some of FishHQ$$s bonds mature in $2023$ and require face value payments totaling $$300,$ in addition to the coupon payments. No other payments are due or expected to be made to bondholders in $2023.$ The beta of the FishHQ$$s bonds is $0\mathrm{.}12.$ FishHQ has $1,000$ shares of common stock outstanding and no other forms of equity. The beta of the FishHQ$$s equity is $1\mathrm{.}22.$ The beta of FishHQ$$s entire ticket stack $($i$.$e$.,$ the firm beta$)$ is $1\mathrm{.}0.$ The market risk premium is $0\mathrm{.}05$ and the risk$-$free rate is $0\mathrm{.}05.$ Next year, FishHQ$$s plans to pay dividends of $$250$ to its stockholders and to repurchase $$200$ worth of common shares. No other payments to equity holders are expected. The common share price on $12/31/2022$ price is $$9\mathrm{.}40.$Please answer the following questions:

a$.$ How much FCF does FishHQ expect to generate in $2023?$

b$.$ What is the expected sales growth for $2023?$

c$.$ What is the discount rate for FishHQ$$s equity?

d$.$ What is the expected return on FishHQ$$s debt in $2024?$