Problem 1. Estimating Hugo Boss' equity value 1. Calculate free cash flows to equity, abnormal earnings, and abnormal earnings growth for the years 2018-2020. Also, calculate the valuation of Hugo Boss based on these models. 2. Assume that in 2021 Hugo Boss AG liquidates all its assets at their book values, uses the proceeds to pay off debt and pays out the remainder to its equity holders. What does this assumption imply about the company's. a. Free cash flow to equity holders in 2021 and beyond? b. Abnormal earnings in 2021 and beyond? c. Abnormal earnings growth in 2021 and beyond? 3. Estimate the value of Hugo Boss's equity on March 29,2018 using the above forecasts and assumptions. Check that the discounted cash flow model, the abnormal earnings model and the abnormal earnings growth model yield the same outcome