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[20 Points) Question 5 A firm Lex is a holding company that has two wholly owned subsidiaries that are in Property and in Automotive Distribution. It also owns 50% of the equity (i.e, none of the debt) of a Contract Hire (leasing) firm. The following is the information about the capital structure of the subsidiaries and the Contract Hire firm. The figures are in Smillion. Debt Value Equity Value Auto Dist. 189.1 Property 31.4 Contract Hire 99 6.4 0.0 457.2 The subsidiaries and the Contract Hire firm do not trade in public markets. However, analysis of firms in similar industries indicates that the asset betas (ie, the beta if there was no leverage) for the three industry groups are: .61 for Auto Distribution; .68 for Property and .41 for Contract Hire. Assume risk-free rate R, is 5% and market premium (E(R) - R.) is 6%. Assume that Lex is able to issue debt 5%. It also faces a marginal tax rate of 40%. 1. What is the equity market value (E) and total market value (DE) of Lex? 2. What is Lex's Equity beta? 3. What is the Lex's WACC