The first level of negotiation has happened and has concluded with you submitting a proposal consisting the following key points: a) Terms of the contract: A 30-day clause of cancellation if the counterparts change their mind or consider Ace’s terms unacceptable b) Takeover money: USD 2 million You are now ready to enter the final negotiation to purchase the university. Answer the following points: 1. Keeping in mind the process goals and your university’s interests, what common ground can you and your counterparts find to close the deal? 2. What is your strategy as the university’s representative? What strategy do you think your counterparts will use? 3. Identify at least six things that might serve as tools to identify the type of power that exists between the two parties. 4. What type of power and behavior did you demonstrate throughout the first-level negotiation? 5. Confirm the status of your deal, based on what has been accomplished, by way of a confirmation letter. In the letter, include the complete agreement, ensuring that you have full and correct understanding. Include BU3110 Project 5 Project Part Description/Requirements of Project Part Evaluation Criteria the letter as the first page of your Project Part 2 submission. Here are the specifications for the letter: 300–500 words in a Word document; single line spacing; standard business letter format. 6. What if your counterparts do not accept your proposal and provide you with a counteroffer? Will you renegotiate to make changes or will you walk away from the deal? Provide reasons for your decision. 7. Support your analysis with researched approaches and best practices.