3. Estimate the value of Mercury using a discounted cash flow approach and Liedtkes base case projections. o Use 11% as your Cost of Capital. o Be prepared to defend additional assumptions you make. o I provide templates for you in the spreadsheet I posted to the course web site in the assignment. I also added a section at the bottom of Exhibit 6 to do some analysis of the base case forecasts. I added new Exhibits 8 and 9 as templates for you. o Note that in the Exhibit 9 valuation template I provide, I also include placeholders for you to estimate terminal value using two different methods: the constant growth formula and a multiples method. For the constant growth method assume a 2.8% terminal growth rate as your base case. For the mutliples' method, use the data in the case and decide on a multiple that you believe is appropriate.