forecasting and valuation on Mysonora Airlines (MAS), Sonora flag carrier, MAS-related data as follows:

• Historical data for the last 3 years as follows:
• 2015-2017 sales of $2870M; $2906M; and $3025M.
• Average sales growth from MAS is 1% (respectively from 2015-2017, namely 0.3%; 1.1%; and 4%). Meanwhile, when drawn with longer historical data, namely the last 10 years, the average sales growth is 5%.
• 2015-2017 net operating assets of $2959M in a row; $3164M; and $3511M.
• The average asset turnover of MAS is 0.90.
• MAS's average profit margin is 7% (respectively from 2015-2017, namely 5%; 7%; and 12%). Meanwhile, when drawn with longer historical data, namely the last 10 years, the average growth profit margin is 10%./
• NOPAT 2015-2017 $130M in a row; $198M; and $359M.
• Net Debt 2015-2017 of $1804M in a row; $1995M; $2103M
• Total Equity 2015-2017 is $1155 in a row; $1169M; and $1408M

Questions:

1. Make MAS forecasting for 3 years (2018-2020)
2. Calculate the MAS discount rate used in the valuation
3. Calculate the value of MAS with abnormal earnings method