Recalculate the intrinsic value of Honda shares using the free cash flow model of Spreadsheet under each of the following assumptions. Treat each scenario independently.
a. Honda€™s P/E ratio starting in 2013 will be 16.
b. Honda€™s unlevered beta is 0.8.
c. The market risk premium is9%.

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1 2 A. Input data 30.0026.25 2 22.5018.75 4 Cap spending/shr 5 LT Debt 2.7 27500 25000 24000 23000 22000 1810 11券 10 | B. Cash flow calculations 891.9 84.2 4320.0 1313.3 1313.3 1313.3 6000.0 6000.0 000.0 6000.0 4253.5 4595.8 4938.2 5280.5 Terminal value 1293.4 4875.0 5450.0 6025.0 108545.5 219 C. Discount rate calculations from Value Line 22 Unlevered beta 0.725 24 甥ǐ tax_rate ●kd咸 YTM in 2010 on A+ rated LT debt 27 market risk prem Row 3 x Row 11 linear trend from initial to final value 0.27 0.23 30 Levered beta 32 WACC 33 PV factor for FCFF 34 PV factor for FCFE 35 1000 0.902 0.816 year at k equity D. Present values 1193 1/13 433878145 296358574 9208564585 6526265262 พา