business valuation

this is a concept explained in kaplan study text. please tell me is it right?

in free cash flows valuation, if we discount free cash flows to equity at the rate of cost of equity instead of WACC, no need to deduct debt value from the PV of cash flows and finance cost need to be deducted from cash flows to calculate pretax flows to equity then after tax flows are discounted at cost of equity.

in another worked example

kaplan is using ungeared asset beta to calculate CAPM. can we use it ?

Kaplan question is this.

A is acquiring B an unquoted company. B is hoping to recieve 75 million. ungeared beta is 1.2 for Brisk free rate is 3% and market risk premium is 5.8%.
forecast free cash flows
1 10.3
2 11.5
3 13.8
4 14.9
Debt of B is 50 million 6% repayable in four years. tax rate is 30%

in case yes then
if we use ungeared asset beta to calculate CAPM and then discount free cash flows to equity at the rate of Ke (calculated as per CAPM) do we need to make adjustment of debt?as beta is already ungeared and didn’t take effect of gearing.

please guide me it confused me a bit.