At the last quarter of Year 2019, Equate Inc conducted business planning and some of the following came up:

Sales 2020 is P800M

Sales growth rate: 10% in Year 2021 and increases by 2% per year until Year 2023 and slowly declines by 4% per year until Year 2025. It is assumed that the growth rate in Year 2025 to be the long run growth in the next years.

EBIT is 10% of sales Required net capital investments on fixed assets and expansions is 10% of increase in sales

Increase in the net working capital is 12% of increase in sales

Tax rate 30%

WACC is 15%

Liabilities as of end of year 2020 is P50M.

a. Compute the Free Cash Flow (FCF)

b. Compute the Terminal Value (TV)

c. Compute the Enterprise Value (EV)

d. Compute the Equity Value (EQV)