Please help with the attached questions as soon as possible

Question 1 George and The Man then visit Bloom Lake Railway. Their junior corporate analyst, Sam, is considering upgrading their station equipment to meet increased demand and lower operating costs as the new station equipment is more energy efficient. The old station equipment was purchased four years ago at a capital cost of $240,000. When purchased, the old equipment was expected to last ten years with a salvage value of $28,000. New station equipment will cost $365,000, including installation costs. The new equipment is expected to last six years along with a salvage value of $107,000. The old station equipment could be sold for $110,000 at present. Both the old and new equipment fall into CCA asset class 8 and they follow the CRA requirement of using the declining balance method at a CCA rate of 20 percent. For simplicity, changes in net working capital will be ignored. The railroad's weighted average cost of capital is 14 percent taking into account all opportunity costs. The corporate tax rate is 37 percent. The projections for annual pre-tax revenues and annual pretax costs with the new station equipment are: Base Case Upper Bound Annual Pre-tax Revenues $197,430 Annual Pre-tax Cost $ 87,430 Lower Bound $216,723 $135,786 $105,786 $46,723 Under which scenario(s) of base-case, best-case or worst-case would you recommend Sam upgrade the railroad company's station equipment on the basis of NPV? Find the IRR for the base-case. Use 27% (NPVBase =$ -7,760) or 7% (NPVBase =$ 181,137) as the second rate depending if you need to increase or decrease the rate. Show all working steps clearly. Question 2: Leasing Your firm needs to either buy or lease $230,000 worth of vehicles. These vehicles have a life of 4 years after which time they are worthless. The vehicles belong in CCA class 10 (a 30% class) and can be leased at a cost of $68,000 a year for the 4 years. The corporate tax rate is 34% and the cost of debt is 10%. There are many more assets in this asset class. The lease payments are made at the beginning of the period. The half year rule is applicable. a) What is the net advantage to leasing? b) The lessor in this case has a tax rate of 35%. What is the net advantage of leasing to the lessor? c) What is the amount of the break-even lease payment to the lessee? How would you solve for it on Excel? d) What is the amount of the breakeven to the lessor? e) Is a lease feasible? f) What should be the tax rate of the lessor so that a lease is feasible? Question 3 a) On a common size statement of comprehensive income for 2009, earnings before interest and taxes would be assigned a common value of? (2 marks) b) Suppose interest expense is $2,000, times interest earned is 5, and cash coverage ratio is 5.5. Calculate the depreciation expense. Question 4 Blenheim PLC is considering making an offer to purchase Howard Department Store. The vice president of finance has collected the following information: Blenheim also knows that securities analysts expect the earnings and dividends of Howard to grow at a constant rate of 5 percent each year. Blenheim management believes that the acquisition of Trafford will provide the firm with some economies of scale that will increase this growth rate to 6 percent per year. P/E ratio Number of shares outstanding (million) Earnings per share Dividends per share ($) Blenheim 14.5 1.30 3.000 0.73 Howard 9.2 0.175 3.657 1.77 a) What's the most Blenheim should be willing to pay in cash per share for the stock of Howard? e) If Blenheim were to offer one of its shares in exchange for 1.75 shares of Howard, what would the NPV be? f) If shares are exchanged in proportion to the current market price, what would be the NPV of the acquisition? g) Why NPV or gain of acquirer from all cash offer is greater than NPV or gain from a proportional stock offer? Question 5: MM Arbitrage Exercise Unique Corporation and Levon Corporation are identical in every way except for capital structures. Unique Corporation, an all-equity firm, has 250,000 shares of common stock outstanding, currently trading at $40 per share. Unique Corporation has an equity capitalization rate of 20%. Levon Corporation uses leverage in its capital structure and has $2,500,000 of debt, on which it pays 12 percent annually. Each firm is expected to have annual earnings before interest of $2,000,000 in perpetuity. Assume that every investor can borrow at 12 percent annually and that there are no corporate or personal taxes and no transactions costs. (a) How much will it cost to purchase 5 percent of each firm's equity? (3 marks) (b)Assuming each firm meets its earnings estimates, what will be the dollar return to each position in part (c) over the next year? (c)Develop an investment strategy in which an investor purchases 5 percent of Unique's equity and replicates both the cost and dollar return of purchasing 5 percent of Levon's equity. Show all supporting calculations. (d)Assume that the value of Unique is $10,000,000 and the value of Levon is $12,500,000. According to M&M, do these values represent equilibrium? If not, explain the process by which equilibrium will be achieved. Show all supporting calculations, assuming that you own 5 percent of Levon's shares