Warsaw Bikes Inc. is a publicly traded Polish company that manufactures and sells bikes in Germany, Hungary and Poland. Govt Bond Rate (in Govt Bond Rate Passenger Revenues Country Poland Currency Zloty local currency) (in Euros) (in millions) 6.00% 2.25% PLN 500.00 Hungary Forint 5.00% 2.50% PLN 250.00 Germany Euros 1.00% 1.00% PLN 250.00 a. If you assume that the local currency sovereign bond ratings for each of the countries matches their foreign currency ratings, estimate the risk free rate for Warsaw Bikes, in Zlotys. b. If equity markets in each of these countries is 1.5 times more volatile that the local currency government bonds, estimate the equity risk premium for Warsaw Bikes. (You can assume that Germany is Aaa rated & a mature market and that the mature market equity risk premium is 6%)