For this project, please try to use Excel to do calculations and analysis and then report in MS Word. Your report should clearly and thoroughly answer the below five questions. Submit your report (and Excel file) on Blackboard. All of this needs to be completed by the listed due date on the syllabus.Please use the project information to answer the following questions for your project report:

Q1. How does different debt levels change CPK' S ROE?

Q2. How does different debt levels change CPK' S Beta?

Q3. How does different debt levels change CPK' S WACC?

Q4. Estimate the effect of leverage on the stock-price and estimate the number of repurchased shares.

Q5. What capital structure should you recommend? Compare your recommendation to the reality, what is your conclusion?