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income delivcu nom cquity $100,000. This cash flow 5. Michael's Guitar Repair Service has an annual free cash flow of is expected to continue forever.

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income delivcu nom cquity $100,000. This cash flow 5. Michael's Guitar Repair Service has an annual free cash flow of is expected to continue forever. Michael's unlevered cost of equity is 1 590 and the market value of its deb is $500,000. There are no nonoperating net assets. Calculate the value of Michael's equity using the adjusted present value model. Assume 14%

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