CURRENCY: USD $<--$ Probably U$.$S$.$ dollars, or perhaps another $($e$.$g$.,$ euros or pesos$).$ We will use U$.$S$.$ dollars.

SCALING: x $1,000<--$ Could be x$1($such as just dollars$),$ x$1000($meaning amounts in Thousands$),$ or Millions $($meaning amounts in millions$).$ We will use x$1000.$

APPLE INC $-$ COMPANY VALUATION

$($Unaudited; USD $1000)$

Fiscal Year $-->20162017201820192020202120222023202420252026$ Total

REVENUE $000000000000$

Growth Rate vs Prior Year $-7\mathrm{.}7\%-1\%-8\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%-7\mathrm{.}7\%$

Total Operating Expenses $00000000000$

OP INCOME OR $($LOSS$)000000000000$

Operating Margin $0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%0\mathrm{.}0\%$

Interest & Other Income $($Exp$)000000000000$

PRETAX INCOME OR $($LOSS$)00000000000$

Tax Provision $000000000000$

Discont'd Ops Income $($Loss$)000000000000$

NET INCOME OR $($LOSS$)000000000000$

Diluted Avg Shares $00000000000$

DILUTED EPS $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$ $$-$

Net Income or $($Loss$),$ from Above $000000000000$

Deprec'n & Amortiz'n Expense $000000000000$

Other Op Sources & $($Uses$)000000000000$

Cash Flow from Op Activities $000000000000$

$($Capital Expenditures, Net of Disposals$)$ @ $00000000000$

Other Investing Activities @ $00000000000$

Cash Flow from Invest'g Activities $000000000000$

Increase or $($Decrease$)$ in Debt $9,859,00000000000009,859,000$

$($Dividend Payments$)000000000000$

Other Financing Activities $000000000000$

Cash Flow from Financ'g Activities $9,859,00000000000009,859,000$

Cumulative Translation Adjustment $000000000000$

NET CASH FLOW $9,859,00000000000009,859,000$

Memo: Free Cash Flow #VALUE! $0000000000$ #VALUE!

VALUATION CALCULATIONS

NET CASH FLOW $"$NCF$"9,859,00000000000009,859,000$

NET PRESENT VALUE OF FUTURE CASH FLOWS

NPV @ $5\mathrm{.}0\%$ $$0$ For low$-$risk companies. The value here is what you would be willing to pay to buy the company under these assumptions.

NPV @ $10\mathrm{.}0\%$ $$0$ For medium$-$risk companies. The value here is what you would be willing to pay to buy the company under these assumptions.

NPV @ $18\mathrm{.}0\%$ $$0$ For high$-$risk companies. The value here is what you would be willing to pay to buy the company under these assumptions.

If you had bought the whole company at the end of fiscal $2016$ for its actual market value of $--->$ $$0($From Financial History worksheet$)$

Net Cash Flow w$/$ Investment