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The case and questions in your side but I can see only fivequestions' answers but I need to see all solutions.

The Sunrise Bakery Corporation was originally founded.......

6. What is the after-tax net income in each of the six years? 7.Calculate the change in working capital each year from theprojected financial statements. 8. What is the terminal value ofthe project at the end of year 6? 9. Compute the free cash flowsfor each year. 10. What is the IRR? 11. Calculate the NPV. 12.Using Payback Analysis, how many years until the project pays offthe investment? 13. What is the return on invested capital? 14.Should Sunrise Bakery purchase the new oven?

Capstone Case: Sunrise Bakery Expansion The Sunrise BakeryCorporation was originally founded in Houston, TX in 1991 byGriffin Harris, who currently serves as the company's ChiefExecutive Officer. About four years ago, Griffin's daughter, Erica,moved into the company to serve as Chief Financial Officer. Ericahad graduated from college a few years ago and had worked for a fewyears in retail. However, for the past two years, she had beenworking quite successfully on an online accounting degree, but shestill felt a little uncomfortable in her new role as CFO of thefamily business. Sunrise produces and markets a variety of bakeryproducts throughout southeast Texas and Louisiana. They operatemostly through warehouse delivery and produce fresh breads, buns,rolls, and snack cakes under a few of their own regional brands butalso including some licensed \"big name\" national brands. In total,they operate five bakeries with one very large facility and foursmaller production sites. For the past three years, sales haveaveraged about $15 Million, generating about $650 Thousand in NetIncome per year. However, sales have been roughly flat for the pastsix years as growth has slowed and production capacity has reachednearly 100%. In order to grow sales, Sunrise Bakery needs to investin further production capacity. Griffin Harris has been looking topurchase more space, build additional bakeries, or even perhapsacquire one of their smaller competitors, but nothing specific hasworked out yet. Erica has an alternative short-term plan tomodernize the production process at their main plant. Her ideainvolves the purchase of a new, significantly faster, integratedcommercial oven that she recently saw displayed at a trade show.Few other bakeries in the region have invested in this modernequipment, and she expects it may cut costs and improve outputefficiency. Her sales representative suggests the new oven couldraise incremental sales at their large bakery by 15%. Installationof the oven could be mostly executed over the upcoming Labor-daylong weekend and shouldn't disrupt sales or production too much.However, the new oven requires an expenditure of $350,000, whichwould be a large capital expenditure for Sunrise. To reflect thewear and tear on the oven, tax law allows for a 10% annualreduction in the value of the oven as a depreciation expense. Thatis, Erica’s financial forecast includes a non-cash expense of$35,000 for each of the next six years. After six years, Erica’ssales representative expects the oven to be worth about $140,000,which is just equal to the accounting book value of the oven aftersix years of accumulated depreciation ($140,000 = $350,000 – 6 *10%*$350,000). Operation of the oven also requires a small initialinvestment in an inventory of spare parts of $15,000. The inventoryshould be fully recoverable for $15,000 if the machine is sold. Theinvestment in inventory represents an increase in other currentassets (inventory) that should be included as a change in workingcapital requirements for Sunrise Bakery. Sunrise estimatesreceivables at 1.5% of revenues and payables at 2% of revenues eachyear. At the end of the project, Erica expects to recover all ofthe working capital invested in the project. In other words, sheexpects a cash flow equal to the amount of Non-Cash Current Assetsless Current Liabilities in the last year of the project. Erica’sfinancial forecast for the new oven does not require anysignificant change in financing. Sunrise started with one smallbakery entirely paid for with cash from Griffin Harris and amortgage on the bakery property. Currently, Sunrise maintains arough capital structure of about 25% debt and 75% equity. InErica's forecast, she expects to purchase the new oven withavailable cash and retained earnings (Sunrise's own money) andwithout any additional drawdown on their bank line of credit (nonew debt). Sunrise currently pays about 4.5% on their debt, andthat rate is not expected to change with the additional purchase ofthe oven. No additional external financing should be needed, andafter discussions with her loan office, Erica expects the bank willapprove the purchase of the oven without any effect on their lineof credit. Overall, the cash purchase of the oven is not expectedto change the capital structure of the Sunrise Corporation.However, since the oven will become part of the assets of Sunrise,the bank could seize the oven should Sunrise fail to make paymentson their current debt. Erica remembered from her online classesthat she needs to assess the risk of her business when makingimportant financial decisions. In researching similar large publicbakery and other food manufacturers, she found that firms in herindustry with about the same level of risk mostly had stock marketbetas around 0.80 on average. She also noted that many analystsused a ballpark equity risk premium of 5.5% and a current yield onU.S. treasury bonds (risk-free rate) of about 3%. Sunrise has acorporate tax rate of 30%. To help understand the costs andbenefits of the decision, Erica worked closely with her director ofoperations, plant manager, marketing team, and her father toproduce some realistic sales, costs, and financial forecasts. Herteam felt uncomfortable forecasting more than 5 or 6 years into thefuture. Her focus was on how the new oven might improve incrementalrevenue generation at their large plant. The case exhibits belowcontain Erica's financial projections for the project. Indiscussing her plan to purchase the new oven, Erica's father seemsmore than a little worried that the new machinery is not worth thecost and that Erica's motivations may not be based on soundfinancial decision making. As Erica looked over the financialforecasts, market data, line of credit agreement, and theintimidating $350,000 invoice that would soon follow, she wonderedhow she could convince her father, and herself, that purchasing thenew oven would be a sound financial decision. Sunrise BakeryCapstone Case questions In this case analysis, our objective is towill bring together all the tools we picked up throughout the fourmodules incorporating discounted cash flows, estimating free cashflow forecasts, analyzing the cost of capital and computing variouscapital budgeting tools. The open-ended platform of a case study isto put the tools and concepts we have developed into a morereal-world and practical setting. Using this information given inthe case, your job is to figure out whether or not to make theinvestment by computing all of the capital budgeting tools that wecovered in week 2. This involves calculation of the free cash flowsfollowing the process we outlined in week 3 and computing thediscount rate we covered in week 4. Exhibit 2 below provides aworksheet for calculating the free cash flows using the financialstatement forecast given in Exhibit 1. In addition to the worksheetprovided in Exhibit 2, a spreadsheet template has also beenuploaded. Please feel free to use this template to complete thecase using the spreadsheet tools we covered in weeks one andtwo.