Guardians is a newly public firm with 10 million shares outstanding. You are doing a valuation of Guardians, using the DCF method. You estimate its free cash flow next year to be $20 million 20,000,000) and you expect the firm's free cash flows to grow by 2% per year in all future years. Because the firm has only been listed on the stock exchange for a short time, you do not have an accurate estimate of Guardian's equity beta, However, you do have an estimate of the equity beta of Tankees, another firm in the same industry. Tankees has an equity beta of 1.60. Tankees has a Debt/Equity ratio of 1.4, but Guardians has a Debt/Equity ratio of only 0.40. Both Guardians and Tankees pay corporate income taxes at the same rate of 25%. The risk-free rate = 3.0%; the return on the market portfolio = 10%; the interest rate on Guardian's debt = 6.0%. a. Calculate the equity beta of Guardians. b. Calculate Guardians equity cost of capital c. Calculate Guardians WACC (weighted average cost of capital). d. Calculate the Enterprise Value of Guardians e. If Guardians has no excess cash and if Guardians has $87,888,532 in interest bearing debt, what is the equity value of Guardians? f. Calculate the price per share of Guardians stock If you cannot calculate Guardian's WACC, assume that the WACC = 10% to calculate the enterprise value of Guardians (for partial credit); (note that 10% is NOT the value of the WACC)