For this question, please use the data from both the $$GHC Free Cashflow Buildup$$ and the $$IS GHC Assumptions$$ files you$$ve already downloaded.

Using the Exit Multiple Method and the assumptions in the GHC workbook, what is the Present Value of the Terminal Value as of $12/31/2016$ for Graham Holdings?

For the Exit Multiple, assume $9\mathrm{.}0$x EBITDA. Assume a WACC of $8\%.$

Note: D&A should be grown in line with the assumption for $$Growth of every other income statement item through $2021.$

$$2,372,889\mathrm{.}82$

$$2,869,530\mathrm{.}16$

$$3,099,092\mathrm{.}57$

$$3,254,047\mathrm{.}20$

$$4,216,281\mathrm{.}23$