Use the data from Excel for Spaceman following this link. Specific values needed: https://docs.google.com/spreadsheets/d/1qKHsiPmbBQAMbw9Of_aJakcMQuYDqA0J/edit?usp=sharing&ouid=111364388527205663124&rtpof=true&sd=true

a) In-depth valuation estimate for Spaceman using the Asset Method (liquidation of assets).

b) In-depth valuation estimate for Spaceman using the Income Method (Value = Expected annual benefit stream/Required rate of return) by estimating your free cash flow and capitalization rate (Discount rate - Growth) using the following assumptions in the calculations:

i. The calculation will be for 100% of the business for a valuation date of 05/31/2018 ii. Assume the replacement salary and benefits for a manager to do the work of the owner would be $100,000 iii. Assume the tax rate is 21% iv. Assume there is average risk for the Company-Specific Risks

Also:

a. What do you think an acceptable range of value would for a purchase?