For the attached data from UPS would I use the data from the FCF (3718,3546,5052) line or the Adjusted FCF (3573,6007,6082) line to answer the following about Pv, (Calculate the present value of the company based on the given interest rate and provided Free Cash Flows for the years 2015, 2016, and 2017. 2. Suppose the risk of the company changes based on an unanticipated decrease in the Free Cash Flows by 10% annually during the years 2015, 2016, and 2017. Recalculate the present value of the company.)

FREE CASH FLOW 2017 2016 2015 Net cash from operations $1,479 $6,473 $7,430 (5,227) (2,965) (2,379) 24 88 26 Capital expenditures Proceeds from disposals of PP&E Net change in finance receivables 5 9 5 1 (59) (30) (3,718) 3,546 5,052 7,291 2,461 1,030 Other investing activities Free cash flow Discretionary Pension Contributions Adjusted free cash flow (in millions of dollars) $3,573 $6,007 $6,082