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Assume that the company's sales are expected to grow 5 % per year for the next 5 years. EBIT margin per year will remain constant

Assume that the company's sales are expected to grow 5% per year for the next 5 years. EBIT margin per year will remain constant for the next 5 years. The tax rate is 21%. Depreciation per year will remain constant for the next 5 years. Capital spending per year will remain constant for the next 5 years. Changes in non-cash working capital as a percent of sales will be 2%. Estimate the stock's intrinsic value. Show your detailed computations. Brielly explain your inputs and logic.
Stock Price: 193.18
EPS: 6.1297
P/ERatio: 31.52
WACC: 8.48
EBIT Margin: 30.13%(constant)
Net Income: $22.96B
Non-cash charges: 515.423B
Capital Expenditures: $2.16 B
Changes in non-cash working capital: -6,060M
Number of shares outstanding: 15,599,434,000
2. Determinea Price Target 1 year from now and 5 years from now using Relative Value Ratios. Show your computations, Briefly explain your inputs and logic.
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