All that is needed is the current value of the firm #1. Other 3 questions are optional.

Mathghamhain Partners, Ltd- @ Overwew Mathghamhain Partners. LTD' ("MPL"), an Irish private enterprise, receives cash flows from SEVera' 50""335- as "Sted 0" the attached statement. A balance sheet is also attached. Some cash ows to Mathghamhain Partners are linked to advisor fees rendered and some cash OWS are the "35"" 0f past performances provided in the arrangement of nancing for large, compiex infrastructure and industrial projects. Normally, cash ows are realized at each year end, December 31. Statements reflect cash accounting. Expected cash ows in Euros from each source are listed below, though changes in underlying exchange rates for each country could affect these cash ows. A discount rate of 25% is appropriate. Today is June 30, 2017. __. MPL has received an unsolicited offer to purchase all outstanding partnership units of the business. Your job today is to value Mathghamhain Partners as a "going concern". The buyer is an investment rm With a strong record in developing new geographic markets for project nance investments. While the rm has substantial worldwide reach, it currently does not have any active interests in the countries with which Mathghamhain Partners conducts its foreign business. The buyer views MPL as an opportunity to reach these new markets (termed a "beach head" in mergers and acquisitions) and the rm expects to offer advisory services (when required) in return for future cash ows with the same level of insight and expertise as Mathghamhain Partners currently provides. Advisog Income 1. Ghana Infrastructure Investment Fund. Annual fee paid as advisor on infrastructure projects and prioritization of such projects for the Government of Ghana through 2021. 2. Nigeria Sovereign Investment Authority. Annual fee paid as advisor/CEO of the NSiA Construction Company to oversee the development, funding and construction of the 2"d Niger Bridge. 3. A success fee to be paid at nanciai close of the 2""I Niger Bridge of approximately 1.5% of the total project cost, that estimated cost being 675 million in 2017. \ 'f 4. Panama Canal AuthOrity. Annual fee paid as nancial advisor to the Panama Economic Development minister on matters related to the expansion and renovation of the Panama Canal until the year 2023- lnvestment Income eement Of a 5/35 sharing arrangement. meaning Mathghamhain O erates under the a r , _ p g f the total equity committed by its investors for operating and Partners receives 5% 0 overhead purposes an d receives 35% 0f the operating prots once the investors have realized their overall returns on those instments. These projects that have me. these criteria and are expected to do so in the ure are. 1. Kazakhstan, Water Bottle Plants 'Established in 1995. operational in 1997. Mathghamhain Partners is now recelvmg 35 /o of the prOJ'ect's annual operating prots. .2 or 180,000 {year until the plant reverts to state ownership after 30 years. or 2027. 2. Azerbaijan Printing Plant. Same cash flows and investment logic as the Water Bottle Plant with Mathghamhain Partners receivmg 35% of annual Operating prots once the investment met the investors return/hurdle rates. Plant was funded/built in 2005 with a 25-year life. cash ows will continue until 2030_ 3. Kazakhstan, Center Pivot Irrigation Plant. Plant funded] closed in 1998, just prior to Russian Ruble crisis. Mathghamhain Partners is receiving 35% of the annual operating prots. The plant has a useful life of 20 Years or until 2018 and annual prot to Mathghamhain Partners of 910.000- 4. Kazakhstan, Tengiz Oil Field DistributionlSupply Wareh0use_ Annual cash ow to Mathghamhain Partners in perpetuity. Proiect was frmded/closed/constructed in 1996 with investors and US operating partner. Halliburton. Annual compensation is 235,000. Expenses If billed at market values. the annual time. travel and administrative expenses incurred by the fund would be $175,000. Assume these costs until 2025 at 3% ination per annum. Other income and Assets One Mathghamhain Partners' member provides advisory as a Board of Directors member for the Chinese rm. CITC. Annual compensation for this position is 135,000." MP' 0003 received. as a gift, a painting by renowned artist Guy Rose. The Guy Rose\ painting was recently appraised for insurance purposes at 1,100,000. Comparable Guy , \ Rosa paintings of similar size and date fetch anywhere from 900,000 to 975,000. i Marketability and liquidity for such pieces is high, though a sale would Incur about 50,000 {' in selling expenses- As a limited partnership. MPL does not pay takes at the entity |evel_ (-- lncome Summagy Actual Forecast 6/30/17 1.2.1.3151 Management Fees from Bol and A13 12.500900 _ "i