Birdie expects a constant Growth Rate on Dividends to be 2 3% going forward Dividends Calculated after TAXES from Hybrid; 2019 35,000,000 2020 40,000,000 2021 45,000,000 2022 50,000,000 2023 55,000,000 For WACC purposes: The capital structure at Hybrid is 40% debt and 60% equity. With the new Swiss Bank funding resulting with a Cost of Debt of 7 %. The Corporate Tax rate is 30% The BETA for Hybrid is 1.44, The Risk Free Rate is 3% and the Return on the Market is 8.5% PLEASE ANSWER ALL OF THE FOLLOWING

QUESTION: What is the Valuation of Hybrid Golf (NPV)? Should the shareholders of Birdie agree to this deal?