Cezzane Enterprises operates a chain of textile fabric stores all over the country. You have been provided with the following projections for the company (in crores of Rupees): 1 2 3 4 (Terminal year) EBIT 120 145 176 185 Net Cap Ex 50 60 70 82.56 Total Working Capital 80 90 100 120 Cost of Equity 14% 16% 13% 15% Pre - tax cost of debt 8% 9.50% 9% 9% Debt to Total assets ratio 25% 25.00% 25% 25% The company has a tax rate of 40%, but it has net operating losses of * 195 crores that it is carrying forward. The firm will grow at 6% forever, starting in year 4. The working capital currently is * 50 crores. a. Estimate the expected cash flows to the firm for the next 4 years. b. Estimate the cost of capital each year for the next 4 years. c. Estimate the terminal value. d. Estimate the value of the firm today