Calculate the present value of terminal value using assumptions below.

Assume cash flows fall in the middle of the year.

Terminal value EBITDA multiple:	6.0
WACC	7.0%
Year	Current	0.5	1.5	2.5
EBITDA		300.0	305.0	303.0
Free cash flow		63.0	64.1	63.6

Select one:

1,535.1

1,650.8

1,701.9

1,484.0