Value a Bimco: Bimco has a changing capital structure, which is predetermined (just as risky as the debt, in terms of likeliness to change) for year one and two, debt is currently 100 million, which it will remain at this level for the next year, by year 2 debt will be 80 million and by year three debt will be a function of a fixed debt to equity ratio of 0.6. Remember that current interest payments are a function of last year's debt level. There is no cashflow this year(year 0)but thereafter Cashflows per year are 100 million forever. Tax rate is 35% The equity cost of capital at time three and beyond will be 13%, the costs of debt capital is independent of capital structure and will cost 5%. A) What is the unlevered cost of capital? B) What is the time three wacc? C) What is the discounted present value of the first three years of cashflows? D) What is the discounted present value of the tax shield for the first three years? E) What is the time three continuation value of the firm? F) Value the total discounted present value of the firm