https://drive.google.com/drive/u/1/shared-with-me

13 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,G130,G184,G238)

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

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

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

14Link 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?

126,043

162,565

143,079

112,115

15In the bull case, what is the free cash flow to the firm (FCFF) if all cash CAPEX in 2027?

114,662

98,662

148,361

125,384

16 In the consensus case, what is the exit multiple terminal value on Dec 31, 2028?

1,605,714

1,853,611

2,232,891

2,151,659

17 In the consensus case, what is Amazon's enterprise value on the valuation date using the exit multiple terminal value?

1,029,071

1,414,325

2,088,584

1,378,837

________________________________________

18 What is the expected AMZN value per share in 2028 in the bear case using the exit multiple terminal valuation method?

7,721

3,570

5,038

4,892

19 Calculate AMZN's target share price using the consensus case assumptions and exit multiple terminal value, then perform a sensitivity analysis. What will the share price be if the exit multiple is 16.0x and the discount rate is 10.5%?

2,717

2,502

2,686

2,473

20 What will the internal rate of return (IRR) be if the exit multiple is 10.0x and the purchase price per share is $1,700 in the bull case (given that the terminal value is calculated using the exit multiple method)?

13.8%

15.4%

13.5%

13.1%