In the most recent fiscal year, a company reported net income of $$850$ million after incurring $$320$ million in interest expenses. $($The corporate tax rate was $36\%.$ That year, it reported a $$960$ million depreciation and $$1\mathrm{.}2$ billion in capital spending. The company also had $$4$ billion in debt outstanding, was rated AA $($with an $11$ percent yield to maturity$),$ and was trading at par. The stock's beta is $1\mathrm{.}20,$ and there were $200$ million outstanding shares $($trading at $$60$ each$),$ with a book value of $$5$ billion. Union Pacific paid out $40\%$ of its earnings as dividends, and working capital requirements are minimal. The Treasury bond rate is $7\%$ and market risk premium is $5\mathrm{.}5\%.$a$.$ Estimate the FCFF for the most recent financial year. Showcalculations of each of the following:$1.$ EBIT$2.$ FCFFb$.$ Estimate the value of the firm now.Show calculations of each of the following:$1.$ Re$-$investment rate$2.$ ROC$3.$ Growth rate$4.$ Cost of equity$5.$ Cost of capital$6.$ Value of the firmc. Estimate the value of equity.d$.$ Estimate the value per share.