Compute the intrinsic value using these 5 years of projected FCFs assuming the terminal value is a growth perpetuity. The WACC is 10% and the first cash flow in the terminal value is the year 5 future FCF.

5 years of projected FCFs:

2021: $48101.00

2022: $49544.03

2023: $51030.35

2024: $52561.26

2025: $53086.87

1. Use the following spreadsheet solve the questions Income Statement Sales Cost of Goods Gross Profit S&A Depreciation EBIT Interest EBT Taxes Net Income Dividends Addition to Retained Earnings 2019 2020 $150,000.00 $175,000.00 $35,000.00 $38,500.00 $115,000.00 $136,500.00 $15,000.00 $16,500.00 $20,000.00 $20,000.00 $80,000.00 $100,000.00 $5,450.00 $3,437.18 $74,550.00 $96,562.82 $29,820.00 $38,625.13 $44,730.00 $57,937.69 $13,419.00 $17,381.31 $31,311.00 $40,556.38 2019 2020 Balance Sheet Assets Cash and Cash Equivalents Acc Receivable Inventory Short Term Investments Current Assets Gross PPE Accumulated Depreciation Net PPE Total Assets $3,000.00 $3,300.00 $20,000.00 $22,000.00 $10,000.00 $11,000.00 $0.00 $2,000.00 $33,000.00 $38,300.00 $500,000.00 $530,000.00 $100,000.00 $120,000.00 $400,000.00 $410,000.00 $433,000.00 $448,300.00 Liabilities and Equity Accounts Payable Accruals Notes Payables Current Liabilities Long Term Debt Total Liabilities Retained Earnings Preferred Stock Common Stock Total Equity $20,000.00 $3,000.00 $15,000.00 $38,000.00 $100,000.00 $138,000.00 $22,000.00 $3,000.00 $15,000.00 $40,000.00 $59,743.62 $99,743.62 $98,000.00 $138,556.38 $10,000.00 $10,000.00 $200,000.00 $200,000.00 $308,000.00 $348,556.38 Total Liabilities and Equity $433,000.00 $448,300.00