hi, can you help me to slove the. question no 1, which include A, B , and C. Please show the calculation step by step. Thank you

reported an income of 550 milionin CONFIDENTIAL BPE 44903 Q1 Zapin Corporation is a firm that specialises in Property Management Services. In the current year, the firm reported RM20 million in after-tax operating income, RM15 million in capital expenditures and RM5 million in depreciation. The firm expects all three items to grow at 10 percent for the next five years. Beyond the fifth year, the firm expects to be in stable growth and at 4 percent a year in perpetuity. You assume that earnings, capital expenditures and depreciation will at 4 percent in perpetuity. The cost of capital and equity risk premium is assumed at 2 and 5 percent, respectively. (a) Compute the terminal value of the firm. (5 marks) (b) Estimate the terminal value of the firm by assuming that the capital expenditures offset depreciation in stable growth. (10 marks) (c) Determine the return on capital that assuming to be in perpetuity by fixing capital expenditures equal to depreciation. (10 marks) TERBUKA reported an income of 550 milionin CONFIDENTIAL BPE 44903 Q1 Zapin Corporation is a firm that specialises in Property Management Services. In the current year, the firm reported RM20 million in after-tax operating income, RM15 million in capital expenditures and RM5 million in depreciation. The firm expects all three items to grow at 10 percent for the next five years. Beyond the fifth year, the firm expects to be in stable growth and at 4 percent a year in perpetuity. You assume that earnings, capital expenditures and depreciation will at 4 percent in perpetuity. The cost of capital and equity risk premium is assumed at 2 and 5 percent, respectively. (a) Compute the terminal value of the firm. (5 marks) (b) Estimate the terminal value of the firm by assuming that the capital expenditures offset depreciation in stable growth. (10 marks) (c) Determine the return on capital that assuming to be in perpetuity by fixing capital expenditures equal to depreciation. (10 marks) TERBUKA