Question: Start 2 3 4 5 6 7 Cash from Operations 2.0 4.0 5.9 8.0 10.0 11.9 15.0 minus: Capital Expenditures 2.0 6.0 5.5 1.0 1.3

 Start 2 3 4 5 6 7 Cash from Operations 2.0

Start 2 3 4 5 6 7 Cash from Operations 2.0 4.0 5.9 8.0 10.0 11.9 15.0 minus: Capital Expenditures 2.0 6.0 5.5 1.0 1.3 1.5 2.0 2.3 = Net Cash Flow (NCF) Terminal Value 11.0 PV of NCF

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