Please show calculation in excel.

A private equity investment fund has firm XYZ in its portfolio. Your task is to estimate the value of this firm, which does not trade publicly. XYZ is 100% equity financed. It is now year 0, and you have the following data on XYZ: Full-year earnings over year 0 $100M Payout ratio in year 0 0% Cost of capital 10% Based on your market analysis, you forecast that without any new investments, XYZ is expected to generate $100M in earnings per year in perpetuity. Investments made in year 0 and 1 are expected to generate $0.20 per year in perpetuity for each $1 invested, starting in a year following the investment. Starting in year 2, new investments are expected to generate $0.10 per year in perpetuity for each $1 invested, starting in a year following the investment. The payout ratio of XYZ will stay at zero in year 1, rising permanently to 60% afterward. Assume the cost of capital in the above table applies to all future cash flows generated by XYZ (including its future investments and earnings), and will remain constant. (a) Compute the expected earnings of XYZ in year 1. (b) Compute the expected earnings of XYZ in year 2. (c) Compute the market value of XYZ as of year 0. (d) What is the net present value of growth opportunities (PVGO) of XYZ as of year 0? Do not include the net present value of year-0 investment into the PVGO.