This is a three-part question. For each part, you should provide as much detail as possible (i.e., the numbers that you are using for the calculation.) Parts A-C are tied together - first you calculate a WACC, then calculate the enterprise value, and finally calculate the value of a share. It might be helpful to do this on paper first, and then type in your numbers. You are planning to value Arcosa, Inc., an infrastructure-related business that was spun from Trinity Industries, Inc. in 2018. You are using a WACC valuation approach: for the first two years, the unlevered cash flows are expected to grow at 4 percent. After the 2nd year, the growth in unlevered cash flow slows to 2 percent and continues at this rate forever. The financial information you have assembled for your valuation is as follows: The company has 2 billion shares outstanding The market value of its debt is S4 billion The unlevered cash flow (UCF) is currently $1.2 billion The equity beta is 0.90; the market risk premium is 5.3 percent; the risk-free rate is 5.5 percent The before-tax cost of debt is 7.0 percent The tax rate is 40 percent To calculate the WACC, you a weighting of 25 percent of debt in the capital structure The UCF growth rate is 4 percent for the first 2 years, and 2 percent thereafter (as noted above), There is no cash or marketable securities on the balance sheet. Part (A): Providing as much detail as possible, calculate the WACC. (3 points) Part (B): Calculate the value of the firm (i.e. the enterprise value). (4 points) Part (C): Calculate the total market value of equity, and the value per share. (3 points)