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_'___ ____ '____'_I ___ _____ __ ____I _'_ _'_ __' ___ U__ __ ' ' :__1._ _'_'J' __ _l.'_'__1J margin is expected to decline

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_'___ ____ '____'_I ___ _____" __ ____I _'_ _'_ __' ___ U__ " __ ' ' :__1._ _'_'J' __ _l.'_'__1J margin is expected to decline to 5%" 1n perpetuity as stated above. The net working capital turnover is expected to grow to If" in perpetuity, and the fixed asset is expected to he steady at 2. For FCFEe'Ke, the cost of equity uses riskfree rate, market risk premium and levered beta, and it comes to be 10.95%. er nding the FCFE and terminal value, the present value can he found, and it is BETTE. By adding the market value of any nonoperating uncut: cm'h n'F mill: H1": annih'r 11511111 n'F H1:- r'nrnnnnn in "151:: HF; :nH 111a n'r'ir'n 11m" churn in $11 51"] T11:- carnn

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