calculate the intrinsic enterprise value using the average of terminal values derived from the EV/EBITDA multiple and perpetual growth methods

A E F G H M N Assumptions Tax Rale 30% Discount Rate 11% Perpotural Growth Rate 5% EVIEBITDA Multiple 8.5x Current Price 19.50 Shares Outstanding 30,000 Discounted Cash Flow Entry Year 1 Year 2 Year 3 Year 4 Terminal Value Year 5 31/12/22 Exit Date 30/06/18 31/12/18 31/12/19 31/12/20 31/12/21 31/12/22 EVIEBITDA Perp. Growth Average Time period 2 3 4 Year frac 0.5 1.0 1.0 1.0 1.0 1.0 EBIT 14,258 15,637 26,390 25,710 41,903 EBITDA 31,490 35,426 39,248 52,478 69,830 Unlevered FCFF 13,762 14,378 21,856 25,421 34,935 Transaction FCFF 6,881 14.378 21,856 25,421 34,935 0 Intrinsic Enterprise Value