Forecast pro-forma unlevered income statements for the next 3 years (2020-2022) using percent of sales forecasting (assume it is the beginning of 2020). You don't need to forecast the balance sheet. Use the following assumptions: Sales will grow by 2% each year All recurring operating expenses and depreciation are a percent of sales based on 2019 levels. The tax rate is 21%. Find the value per share by discounting the unlevered free cash flows at the WACC assuming that, after year 3 of the forecast, free cash flows will grow by 2%. Assume that working capital is a constant percent of sales based on 2019 levels and capital spending equals depreciation each year. Assume that they will use 50% debt financing and use the WACC from problem 1A above. There are 40 million shares outstanding. (Show work on the 'Problem 1' Excel worksheet.)