In addition to your one-page report, include as many exhibits, charts, tables, decision trees, and other relevant attachments as you consider necessary. Be sure that your additions to the written paper support your write-up and recommendations. Reference the exhibits within your text so it is easy for the reader to understand how to read the chart(s) and how it fits in your argument.Questions that you should aim to answer in your analysis, and include in your write-up:How has Merck been able to achieve substantial returns to capital given the large costs and lengthy time to develop a drug?Build a decision tree that shows the cash flows and probabilities at all stages of the FDA approval process.Should Merck bid to license Davarink? ExplainAssume Merck is prospecting another drug from a different third party lab whose EMV is $M 15.1. Should Merck still bid for Davarink? ExplainWith the data provided, is it possible to determine how much should Merck pay for the drug?How would your analysis change if the costs of launching Davarink for weight loss were $225 million instead of $100 million as given in the case?