What were the probable pros and cons for this project when initially decided upon Analyze the project's return in the initial business plan using all the facts included in the Exhibits Please note that the return for shareholders must be calculated and adjusted by possible additional returns to share holders as participants in the project as builders , operators , suppliers , Split the analysis in two parts 1 . Project point of view ( no financing ) 2 . With the financing structure in place Please notice that the cost of the different sources of debt is after - tax cost as you can see in Exhibit 4 Do you think the estimated liquidation value is reasonable ? Why ? What does a negative FCF to share holders mean ? ( please look at Note 4 of the case as a hint and Note 2 of this paper ) Do you think it is reasonable to have such a profile of FCF to shareholders ? Can you find explanations for this