s. (Bonus problem, 5 points). Raymond Supply, a national hardware chaaysts project purchasing a smaller chain, Strauss &Glazer Parts (SGP). Ra the merger will result in the following incremental free cash flows, tax shields, and ho ect that ymond's values: Year Free cash flow Unlevered horizon value Tax shield (TS) Horizon value of tax shield S1 S3 $3 $7 75 32 is currently financed with 30% debt at a rate of 10% The acquisition would be made immediately, and if it is undertaken, SGP would continue at the 30% target level. The interest rate would remain the same. SGP's pre-merger beta is 2.0, and its post-merger tax rate would be 34%. The risk-free rate is 8% and the market risk premiumis4% What is the unlevered value of operations(Vunlevered) of SGP to Raymond? SGP