Calculate the intrinsic value of Toyota shares using the free cash flow model of Spreadsheet $18\mathrm{.}2.$ Treat each scenario independently.

Required:

Toyota$$s P$/$E ratio starting in $2025($cell G$3)$ will be $11\mathrm{.}5.$

Toyota$$s unlevered beta $($cell B$22)$ is $0\mathrm{.}65.$

The market risk premium $($cell B$27)$ is $7\mathrm{.}5\%.$