Format of your paper Think of yourself as a consultant working for Ocean Carriers. This is the summary you send to the CEO of Ocean Carriers. Within the brief introductory paragraph answer the question in the introduction of your summary. The rest of the paper is your logic and evidence to support your conclusion. Brevity is always important in business. Make sure the Excel file is labelled for data to be easily found. You would not want your client to struggle to find where items are in the Excel file. No credit will be given for late submission. Each group is required to submit on the due date, a three-page maximum memorandum of analysis and recommendations covering the case study questions along with any accompanying tables and exhibits. Be sure to indicate how you arrived at your conclusions. I will accept one memorandum from the group and count it for all students in the group. The names of all group members should be on the summary. There will be a group submission folder for submission of this case. Make sure you directly address all the case-study questions (listed below) in the memorandum but do not answer each question one by one in a linear fashion. Instead integrate the questions into your discussion. Each group should also submit, via D2L, the Excel file that contains the (professional, neat, complete, and clear) analysis. Brevity is a virtue for case write-ups. Do not repeat the facts of the case. Everyone in the group is expected to have read the case and participated in preparing the memo. I expect the answers to be well reasoned. The is your opportunity to apply the concepts you have learned thus far in class. The real-world is full of problems with complex and unclear questions. Understanding the ideas is important and being able to explain them to your manger, colleagues, and clients is important. Case studies are a good way to apply course knowledge to real-world situations. Your case write-up will be graded both on your answers as well as on how well you defend your proposed solution. Question of the case: Should Ms Linn purchase the $39m capsize? Use these two assumptions: 1. Assume Ocean Carriers is a U.S. firm subject to 35% taxation. 2. Ocean Carriers uses a 9% discount rate. The below questions will help to derive your answer and should be integrated into your discussion. 1. Do you expect daily spot rate hires to increase or decrease next year? 2. What factors drive average daily hire rates? 3. How would you characterize the long-term prospects of the capesize dry bulk industry? 4. What are the market environments best suited to invest in a capesize? 5. What do you think of the companys policy of not operating ships over 15 years old? Hints to develop your summary: 1. Its helps to break the case study into components instead of thinking of the case in its entirety. What are the various factors that influence your decision? 2. As you analyze this case, think about it in terms of cash flows and decision rules to determine if you accept the investment project or reject the investment project