Complete Live Case section in the Scenario worksheet. There are 4 scenarios in this model: Consensus, Bull, Bear, and Other. The numbers in the live case should reflect one of the cases based on cell K14, which is dynamically linked to the scenario selected in the dropdown menu at the top of the worksheet. What formula will you use to fill cell G21 (online stores for 2018E)?

=CHOOSE($K$14,G76:Q238)

=CHOOSE($B$1,G76,G130,G184,G238)

=CHOOSE($B$1,G76:Q238)

=CHOOSE($K$14,G76,G130,G184,G238)

Link the live case with the Historical Analysis section in the Financial Model worksheet and complete the Valuation section. In the consensus case, what is the EBITDA excluding stock-based compensation (SBC) in 2024?

143,079

162,565

112,115

126,043

In the bull case, what is the free cash flow to the firm (FCFF) if all cash CAPEX in 2027?

98,662

114,662

148,361

125,384