Libra plc has an estimated terminal value (representing cash flows beyond the planning horizon) of 100 million.
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Libra plc has an estimated terminal value (representing cash flows beyond the planning horizon) of £100 million. What is the present value of this figure assuming a discount rate of 12 per cent and a planning horizon of:
(a) 5 years
(b) 10 years
(c) 15 years?
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