Please answer all questions as asked dont do excel calculations

Question 8 [9 Marks] Conly expects sales of silicon chips to be R30 million this year. Because this is a very capital- intensive business, fixed operating costs are R10 million. The variable cost ratio is 40%. The company's debt obligations consist of a R2 million, 10% bank loan and a R10 million bond issue with a 12% coupon rate. The company has 100,000 shares of preferred shares outstanding that pays a R9.60 dividend. Conly has 1 million shares of common shares outstanding, and its marginal tax rate is 40%. Required: Calculate the following: 8.1. Degree of operating leverage. (2) 8.2. Degree of financial leverage. (2) 8.3. Degree of combined leverage. (2) 8.4. EPS if sales decline by 5%. (3) External Examiner: Prof C Chipeta