Assuming the role of an analyst, tasked by Kimi Ford with reviewing Joanna Cohen's analysis, you will create formal executive summary detailing your evaluation. This evaluation should be focused on the variables, estimates and assumptions Kimi used that resulted in a Cost of Capital for Nike. Make recommendations for changes in the variables based on your analysis. Calculate a revised Cost of Capital and consider how the revised cost would affect the value of Nike.

As with all written communication, assume your work will be circulated widely - anyone from analysts to executive leaderships as well as to Joanna Cohen. As with any evaluation, especially one involving complicated numerical data, clarity is critical to a reader's understanding and retention of the information provided.

The executive summary will be assessed on the accuracy of your analysis as well as the effectiveness of the written communication. Attentiveness to format (headings, margins, spacing, font, and consistency), grammar/mechanics, sentence structure, brevity, and professional tone is necessary to enhance your credibility and the credibility the reader attributes to your evaluation. Audience analysis will be apparent in the organization of the executive summary's content as well the language used.

Considering the memo might be perceived as "bad news" by the Joanna Cohen or other interested parties, the executive summary should be organized.