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Fibre-2-All is a South African Software company with several electronic divisions. The company has just released its 2020 annual report, and excerpts of its financial

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Fibre-2-All is a South African Software company with several electronic divisions. The company has just released its 2020 annual report, and excerpts of its financial information are contained in tables 1 and 2 below Table 1: Fibre-2-All balance sheet 2020 (R) 2019 (R) Total current assets 719 633 Total fixed assets 3909 3856 Total current liabilities 228 220 1800 1650 Long term debt Total liabilities and shareholders equity Table 2 Fibre-2-All Statements of income (R except for share data) 3909 3856 2020 2019 Total revenues R3175 R3075 EBIT 495 448 Interest expense 104 101 Net Income 235 208 Dividends per share R0 80 B.80 R1664 R1509 Total shareholders equity Number of shares outstanding 100 100 . Additional information Depreciation (2020) R483. The firm spent R250m on profitable projects during the course of 2020 WACC 1596 Cost of equity of the firm: 10% Tax rate 40% Increase in net debt: 130 - WACC 15% - Cost of equity of the firm: 10% Tax rate : 40% Increase in net debt: 150 Required: Fill in missing information Do not include symbols: R; S: %; t(tonnes); l (litres); m (millions) etc. However, If the answer is negative please include the negative sign e.g. -2 Decimals should be written as 6.25 not 6,25 Carry 2dp for all workings and final answer. The networking capital for 2020 is R[A], the increase in networking capital in 2020 is R[B] The Free Cash Flow to Equity (FCFE) for the year 2020 is equal to R[C]. You are told that the Free Cash Flow to the Firm of the firm will continue to grow at a rate of 596 for the next 3 years, after which it will stabilize to a rate of 3%. The Free cash flow to the Firm (FCFF) for the year 2020 is equal to R[D] (use EBIT). The FCFF for years 2022 2023 and 2024 is R[E], R[F): R[G], respectively. The terminal value for the year ended 2023 is equal to R[H] The total value of the firm is equal to R[T]. If the market value of debt is equal to 1200, the value of equiry is equal to R[J]

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