An analyst has used the percent of sales method to forecast the items in the table below for 2020- 2022 for New Energy, Inc., which is financed with common equity only. The beta for the company's stock is 1.2, and the company's tax rate is 38%. Assume a riskfree rate of 4% and an equity market risk premium of 5%. Estimates for New Energy, Inc. Amounts in Millions 2019 Actual 2020 2021 Forecast Forecast 2022 Forecast Operating Income (EBIT) Net Plant and Equipment Operating Current Assets Operating Current liabilities 2,410 8,326 5,551 1,680 2,555 8,826 5,884 1,781 2,790 9,355 6,237 1,887 2,958 9,916 6,611 2,001 1(a) 5 points What is the cost of capital for the company? 1(b) 5 points What is the net operating profit after taxes (NOPAT) for 2020? 1(c) 5 points What is the net operating working capital (NOWC), and total net operating capital (TNOC) for each of the years 2019 and 2020? 11(d) 5 points What is the free cash flow for 2020