Free cash flow (FCF) year ending 28jul2012	10,000,000
Growth rate of FCF, years 1-5	5.00%
Long-term FCF growth rate	2.00%
Weighted average cost of capital, WACC	8.500%
Year	2012	2013	2014	2015	2016	2017
FCF						0
Terminal value
Total
Enterprise value		<--
Add back initial cash and marketable securities	50,000,000	<-- 50000000
2012 liabilities	-30,000,000	<-- -30000000
Equity value		<--
Shares outstanding	8,000,000	<-- 8000000
Per share		<--