Year Proj. 1 Proj. 2 Proj. 3 0 (30,000) (30,000) (20,000) 1 8,000 500 3,000 2 8,000 20,000 5,000 3 10,000 10,000 12,000 4 10,000 10,000 12,000 5 5,000 2,000 (dollars in millions) Cash Flows There are no terminal values for the projects Current debt is $100 million (at 7%) and current equity is $300 million. The treasury rate is 4%, AAA rated bonds are trading at 7%, the company tax rate is 35%, and current levered beta is 1.40. The company will either fund the projects completely through debt (new bonds at 10% interest), completely through equity (new stock issuance), or will fund half through debt (new bonds at 10% interest) and half through new stock issuance. If the company funds 100% through debt, the new levered beta will be 1.35. If it chooses to fund 100% through equity, the new levered beta will be 1.15, and if it funds 50% through debt and 50% through equity, the new levered beta will be 1.25. Required: Please submit a spreadsheet with the following items: Determine Ingenuitys current WACC and its potential WACC under each the three funding scenarios. Calculate and prepare a table showing the NPV, IRR, and Payback metrics for each of the projects utilizing the company WACC for funding scenario. Which funding option should the corporate finance department recommend? Why?