Adeline operates a chain of handbags around the country. You have been provided
with the following projections for the company (in millions of Rupees)
	1	2	3	4 (Terminal Year)
EBIT	110.00	125.00	156.25	164.06
Net Cap Ex	30	37.5	46.5	32
Total Working Capital	60	70	82	90
Cost of Equity	12%	11%	11%	10%
Pre-tax Cost of Debt	8%	7.50%	7%	7%
Debt to Total asset Ratio	20%	20%	20%	20%
The company has a tax rate of 30%,
The firm will grow at 5% forever, starting in year 4. The
working capital currently is 52 million.
a. Estimate the expected cash flows to the firm for years 1-4.
b. Estimate the cost of capital each year for years 1-4.
c. Estimate the terminal value.
d. Estimate the value of the firm today.