DCF	LAST PUBLISHED FIGURES	ESTIMATIONS
Millions	2021	2022 EST	2023 Est	2024 Est	2025 Est
EBIT	4,872
- Taxes	1,072
+Amortizations / Depreciations	1,441
- Capex	1,800
- Change Cap	-120
FREE CASHFLOW	3,561	0	0	0	0

Information for Fair Value calculations: EBIT 2018: 9,269 Million $ Tax Rate 2018: 19% (taxes a % of EBIT) Depreciation & Amortizations 2018: 1,086 Million $ Capex 2018: 2,100 Million $ Working Cap 2018: Decrease in Working cap of 30 Million $ We have to project our cashflows for 4 Year. For our estimations we use the following assumptions: EBIT will grow 4.5% annually for the next 4 years because of the positive impact of new products that have higher margins Tax rate will remain at the same rate Depreciation and Amortization will grow 3.5% annually for the next 4 years Capex will decrease 4% each year, as the opportunities of growth and investment are decreasing. Working Capital Variation will remain stable.

Questions how to complete the estimation ?