It is now the end of 2009 and Astrid Sportswear Inc. (ASI), is considering acquiring Halloween Attire Ltd. (HAL). ASI uses a 12% discount rate. ASI has gathered the following data on HAL.

Required:
Calculate HAL's total business value at the end of 2009.

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2014 2015 2016 After 2016 (S millions) (S millions) ($ millions) ($ millions) (S millions) (S millions) (5 millions) ($ millions) 2010 201 2012 2013 EBIT Interest expense Depreciation expense Tax rate Capital expenditures Working capital increases/ 1265 1388 1499 1,530 1,550 1560 1,568 1,570 100 75 35% 35% 35% 125 100 290 30% 190 00 100 200 140 100 100 100 200 25% 150 100 250 25% 175 301 245 150 (50) 1100) (200) 30% 210 30% 265 201 (decreases) 25 45 76 90