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(6) Assume the terminal value is calculated at $3,230,000 Determine the firm value of Whitelands at December 31, 2016 by completing the following table. Free

(6) Assume the terminal value is calculated at $3,230,000 Determine the firm value of Whitelands at December 31, 2016 by completing the following table.

Free Cash Flow

Time Value Factor 8% WACC

Present Value at 12/31/16

FCF2017: $28,000

.92593 (n= 1)

IFCF2018: 35,000

.85734 (n= 2)

FCF2019: 45,000

.79383 (n= 3)

FCFTV: 765,000

.73503 (n= 4)

Firm Value

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