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You are analyzing the U.S. equity market based upon the S&PIndustrials Index and using the present value of free cash flow toequity technique. Your inputs are as follows:Beginning FCFE: $90k = 0.09Growth Rate:Year1–3:9%4–6:8%7 and beyond7%Assuming that the current value for the S&P IndustrialsIndex is 5,500, would you underweight, overweight, or market weightthe U.S. equity market? Do not round intermediate calculations.Round your answer to the nearest cent.You should -Select-underweightoverweightmarket weightItem 1 theU.S. equity market as the estimated value of the stock of$   is -Select-higher thanlower thanequal torItem 3the S&P Industrials Index.Assume that there is a 2 percent increase in the rate ofinflation — what would be the market’s value, and how would youweight the U.S. market? Assume that the required return wouldincrease from 9% to 11%, decreasing the value. Also assume that thenominal cash flow growth rates would increase for all time periodsby two percentage points. Do not round intermediate calculations.Round your answer to the nearest cent.You should -Select-underweightoverweightmarket weightItem 4 theU.S. equity market as the estimated value of the stock of$   is -Select-higher thanlower thanequal torItem 6than the S&P Industrials Index.