Can you please show me on excel $($& show the formulas$)$on how to solve this problem?

Jurgen Knudsen has been hired to provide industry expertise to Henrik Sandell, CFA, an analyst for a pension plan managing a global large-cap fund internally. Sandell is concerned about one of the fund's larger holdings, auto parts manufacturer Kruspa AB. Kruspa currently operates in 80 countries, with the previous year's global revenues at 5.6 billion. Recently, Kruspa's CFO announced plans for expansion into China. Sandell worries that this expansion will change the Company's risk profile and wonders if he should recommend a sale of the position. Sandell provides Knudsen with the basic information. Kruspa's global annual free cash flow to the firm is 500 million and earnings 400 million. Sandell estimates that cash flow will level off at 2 percent rate of growth. Sandell also estimates that kruspa's after-tax free cash flow to he firm on the China project for next three years is, respectively, 48 million, 52 million, and 54.4 million. Kruspa recently announced a dividend of 4.00 per share of stock. For the initial analysis, Sandell requests that Knudsen ignore possible currency fluctuations. He expects the Chinese to sell only to customers within China for the first three years. Knudsen is asked to evaluate Kruspa's planned financing of the required 100 million with a 80 public offering of 10-year debt in Sweden and the remainder with an equity offering. Equity risk premium, Sweden Risk-free rate of interest, Sweden Industry debt-to-equity ratio Market value of Kruspa's debt Market value of Kruspa's equity Kruspa's equity beta Kruspa's before-tax cost of debt China credit A2 country risk premium Corporate tax rate Interest payments each year 4.82% 4.25% 0.3 900 million 2.4 billion 1.3 9.25% 1.88% 37.5% Level Sandell is performing a sensitivity analysis of the effect of the new project on the company's cost of capital. If the China project has the same asset risk as Kruspa, the estimated project beat for the China project, if it is financed 80% with debt is closest to: