2) Figure out the implied enterprise value based on the industry average EBITDA multiple (Exhibit 45.6) and the implied share price.

3) Figure out the weighted average cost of capital (WACC) based on Exhibits 45.6 and 45.9.

4) Construct a Cash flow table for fiscal years 2012 to 2015 and Long-term growth, based on income statement (Exhibit 45.2) and financial ratios (Exhibit 45.8). (Please use only Bullish Scenario) Please use the following hints: Change in Net working capital = new NWC - old NWC Investment (Change in Fixed asset) = new Fixed asset - old Fixed asset

5) Figure out the implied enterprise value based on the discounted cash flows (DCF) method and the corresponding share price.

6) Do you recommend repurchasing shares or not? Why?