ave O OFF A B 9 2 . C ... Chap 6 Excel.xis - Compatibility Mode Insert Draw Page Layout Formulas Data Review View Tell me Share Arial v 12 A A P Wrap Text v General B Merge & Center v $ % 9 Conditional Format Cell Insert Delete Format Sort & Formatting as Table Styles Filter board Font Alignment Number Styles Cells Editing 4 x v fx B C D E F G H K L M N O P Chapter 6 31 Input Area: YEAR 2 3 Terminal EBIT 10,000,000.00 EBIT $10,000,000.00 Depreciation 1,000,000.00 Depreciation $1,000,000.00 CapEx 1,200,000.00 Change in NWC 800,000.00 OCR tax rate 21% CapEx EBIT Growth First 4 ys 5% Change in WC Depreciation (10% of EBIT) Year 5 Projected FCF CapEx maintain at 120% of Dep FCP Terminal Value Change in NWC Growth First 4y 5% PV of FCF PV of TV Terminal EBIT Grwth Rate 3% Terminal NWC Grwth Rate 3% Risk Free Rate 3% Equity Beta 1.1 Total Firm Value Interest Rate on Debt 4% Debt Market Value Debt Weighting 25% Equity Weighting 75% Enterprise Value 540,000,000.00 Risk Free Rate 3% Equity Beta 1.1 #26 #27 #28 #29 #30