You will be expected to fully justify the estimates used in your model regarding the following key elements for the comoany $($NEXT$)$;

The horizon period chosen $(8$ marks$)$ which is $5$ years.

The difference $($spread$)$ between ROIC and the Cost of Capital both during and after the horizon period $(5$ marks$)-$ which are $32\mathrm{.}55\%$ and $11\mathrm{.}07\%$ respectively.

The expected future growth both during and after the horizon period $(5$ marks$)$

Justification should be provided with company, and industry specific factors.