Electronix Inc. manufactures electronic products. The company's weighted average cost of capital is 8 percent. The company forecasted the following free cash flows for the next 20 years:

Year	Free Cash Flows
1	$15,000,000
2	$16,200,000
3	$21,000,000
4	$23,000,000
5	$27,000,000
6-10	$25,000,000 per year
11-20	$21,000,000 per year

• Prepare a valuation report for Electronix Inc. using the discounted cash flow approach.
• What accounts are taken into consideration in the discounted cash flow method?