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I need help with this question. I am unable to upload the excel sheet so I saved it in the google drives link below. https://drive.google.com/file/d/10yGDvNnF2unrLQrWO9O-LDzAFxYvGhhk/view?usp=sharing

I need help with this question. I am unable to upload the excel sheet so I saved it in the google drives link below.

https://drive.google.com/file/d/10yGDvNnF2unrLQrWO9O-LDzAFxYvGhhk/view?usp=sharing

Hastings Corporation is interested in acquiring Vandell Corporation. Vandell has 1 million shares outstanding and a target capital structure consisting of 30% debt. Vandell's debt interest rate is 7.6%. Assume that the risk-free rate of interest is 7% and the market risk premium is 6%. Both Vandell and Hastings face a 40% tax rate.

Hastings estimates that if it acquires Vandell, interest payments will be $1,500,000 per year for 3 years after which the current target capital structure of 30% debt will be maintained. Interest in the fourth year will be $1.409 million after which interest and the tax shield will grow at 5%. Synergies will cause the free cash flows to be $2.5 million, $3.0 million, $3.4 million, and then $3.67 million in Years 1 through 4, respectively, after which the free cash flows will grow at a 5% rate.

What is the unlevered value of Vandell? Vandell's beta is 1.10. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000, not 1.2. Do not round intermediate calculations. Round your answer to two decimal places.

$fill in the blank 2

What is the value of its tax shields? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000, not 1.2. Do not round intermediate calculations. Round your answer to two decimal places.

$fill in the blank 3

What is the per share value of Vandell to Hastings Corporation? Assume Vandell now has $10.25 million in debt. Do not round intermediate calculations. Round your answer to the nearest cent.

$fill in the blank 4per share

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