Intro Tennessee Whiskey is a U.S. producer of alcoholic drinks. The company is evaluating opening a new distillery in Scotland for serving the British market. The project will last four years, after which the distillery will be sold. The company has estimated the following data: Initial investment required: 80 million After-tax salvage value in year 4: 48 million Annual depreciation: 8 million British income tax rate: 35% Fraction of after-tax income remitted to parent: 100% Withholding tax rate imposed by Britain: 0% Stock beta: 0.6 Bond interest rate: 8% Target capital structure: 50% equity and 50% debt U.S. tax rate: 21% Treasury bond yield: 2% Expected return on the S&500: 5% . The company expects the following revenue, costs, depreciation and exchange rates: Year o Year 1 Year 2 Year 3 80 80 80 64 64 Revenue ( million) Costs ( million) Depreciation ( million) Exchange rate (per ) 64 8 8 8 $1.25 $1.21 $1.17 $1.13 Part 2 Attempt 2/10 for 10 pts. What is the cash flow from assets to the parent in year 3 (in $ million)? 0+ decimals Submit Attempt 2/10 for 10 pts. Part 3 What is the cost of equity? 4+ decimals Submit Attempt 1/10 for 10 pts. Part 4 What is the weighted average cost of capital? 3+ decimals Subrnit