1. Also, include a sensitivity analysis if Mr. Bansal decides to provide a fee reduction in the expected revenue for 5 years as follows:

Note: Use the following revised expected revenue structure with the fee reduction (all other assumptions remain the same as given in Exhibit 3). Fees are in Indian Rupees

	Year 1	Year 2	Years 3-5 (per year)
Total strength	35	50	80
New enrolments	35	25	40
Returning	0	25	40
Fees New students (one time and annual)	17,500	18,000	18,500
Fees Returning students (annual)		15,500	16,000