John Thompson, CEO of NewVenture,Inc. seeks to raise $5 million in equity for his early stage venture in January 2024. NewVenture is a subscription-based software company that has experienced 75% revenue growth over the last year. The company generated $2.5 million of revenue in 2023, with an operating loss pf $450,000. Thompson projects that NewVenture will achieve $30 million in revenue by 2028 (with a constant growth rate in the next 5 years), followed by 5 years of 35% revenue growth (2029-2033), and 3% growth thereafter (2034 and onwards). He also estimates that company will remain unprofitable until 2028, with EBIT margins of -10% on average over the next 5 years (2024-2028), growing over time to an average of 5% in years 6-10 (2029-2033), and 10% thereafter (2034 and onwards).

2. Use the DCF model to estimate the value of NewVenture at the end of 2028,

assuming that the startup meets the projections made by Thompson. For simplicity,

ignore taxes, net working capital, and capital expenditure. The appropriate cost of

capital is 12%. Does the multiple range assumed by Samantha Smith make sense

given the projected cash flows from NewVenture?

please give me the exact formulas with their exact numbers.