Mr. Mwila, a research analyst, has been hired to value Le AVIC Ltd., a company that is currently experiencing rapid growth and expansion. Mwila is an expert in the construction industry and has had extensive experience in valuing similar firms. He is convinced that a value for the equity of Le AVIC Ltd. can be reliably obtained through the use of a three-stage free cash flow to equity (FCFE) model with declining growth in the second stage. Based on up-to-date financial statements, he has determined that the current FCFE per share is K2. He has prepared a forecast of expected growth rates in FCFE as follows: Stage 1: 9% for years 1 through 3 Stage 2: 6.0% in year 4, 4.5% in year 5, 4.0% in year 6 Stage 3: 3.0% in year 7 and thereafter Moreover, Mwila has determined that the company has a beta of 1.4. The current risk-free rate is 4.0%, and the equity risk premium is 7.0%. Other financial information: Outstanding shares: 200 kwacha shares. Tax rate: 35.0% Interest expense: K30 000.00. Create a spreadsheet to calculate the following: i. the required rate of return ii. the terminal value in year 6 iii. The per share value Mwila assigned to Le AVIC ltd iv. The free cash flow to firm (FCFF)