Hi does anyone have the answers for these questions, 23,24 and 25. They are about Dividends and Imputation system in chapter 17 payout policy.

23 Ebortal Limited carries $240 million in debt and has $20 million in exces 24 25 c. assuming that investors can fully utilise franking credits paid by the firm (7: 1)? ' 5 cash. Assume that market value of debt equals its book value. The firm expects to generate $132 million in free . flows, after corporate taxes, into perpetuity, with no growth expected. Ebortal has a dividend pa ratio of 80%, which is expected to remain constant. The before-tax cost of debt is 8% and the m5. of equity to the firm is 12%. The corporate tax rate is 30%. Assume that Ebortal operates classical tax system. a. What is the market value of equity? b. What is the firm's enterprise value? c. What is the firm's weighted average cost of capital? ' *Redo Problem 23, assuming that the firm expects to generate $132 million in free cash flows . " year, and that these free cash flows are expected to grow at 2% in perpetuity, and that the operates under an imputation tax system and all its shareholders can fully utilise the franking cr-Jr to offset their personal tax. Richmond Ladders Limited has generated profits before tax in Australia of $45 million. Its corpo__-_" tax rate is 30%. Richmond has a constant dividend payout ratio of 65%. a. What is the size of the dividend paid? b. What is the value of franking credits distributed? c. What is the value of undistributed franking credits