please show work in excel $12.$ Bron has EPS of $$3\mathrm{.}00$ in $2002$ and expects EPS to increase by $21$ percent in $2003.$ EPS are expected to grow at a decreasing rate for the following five years, as shown in the following table.

$2003$

$2004$

$2005$

$2006$

$2007$

$2008$

Growth rate for EPS

$21\%$

$18\%$

$15\%$

$12\%$

$9\%$

$6\%$

Net capital expenditures per share

$$5\mathrm{.}00$

$$5\mathrm{.}00$

$$4\mathrm{.}50$

$$4\mathrm{.}00$

$$3\mathrm{.}50$

$$1\mathrm{.}50$

In $2008,$ the growth rate will be $6$ percent and is expected to stay at that rate thereafter. Net capital expenditures $($capital expenditures minus depreciation$)$ will be $$5\mathrm{.}00$ per share in $2002$ and then follow the pattern predicted in the table. In $2008,$ net capital expenditures are expected to be $$1\mathrm{.}50$ and will then grow at $6$ percent annually. The investment in working capital parallels the increase in net capital expenditures and is predicted to equal $25$ percent of net capital expenditures each year. In $2008,$ investment in working capital will be $$0\mathrm{.}375$ and is predicted to grow at $6$ percent thereafter. Bron will use debt financing to fund $40$ percent of net capital expenditures and $40$ percent of the investment in working capital. The required rate of return for Bron is $12$ percent.

Estimate the value of a Bron share using a two$-$stage FCFE valuation approach.