Toyota Motor Company is expanding the production of their gas$-$electric hybrid drive systems and plans to shift production in the United States. To enable the expansion, they are contemplating investing $$1\mathrm{.}5$ billion in a new plant with an expected $10-$year life. The anticipated free cash flows from the new plant would be $$220$ million the first year of operation and grow by $10\%$ for each of the next two years and then $5\%$ per year for the remaining seven years. As a newly hired MBA in the capital budgeting division you have been asked to evaluate the new project using the WACC, Adjusted Present Value, and Flow$-$to$-$Equity methods. You will compute the appropriate costs of capital and the net present values with each method. Because this is your first major assignment with the firm, they want you to demonstrate that you are capable of handling the different valuation methods.