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Free cash flow at beginning of the constant growth phase ( FCF , ) = $1 , 057. 083 Weighted average cost of capital (

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Free cash flow at beginning of the constant growth phase ( FCF , ) = $1 , 057. 083 Weighted average cost of capital ( WACC ) = 15. 00% Constant growth rate ( 9 ) = 5. 66%/0 HV, = VOD, 3 $817. 945 Present value of HV = $537. 812 Present value of free cash flows = $160. 262 Total value of operations at Year O , Von = $698. 074

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