Multi-Growth Periods of Operating Free Cash Flow (in Millions) Assume a firm has operating free cash flows of $350 million, which is expected to grow at 18% for four years. After four years, it will return to a normal growth rate of 6%. We will assume that the weighted average cost of capital is 9%. Table 1: The two stages of the OFCF goes from a high growth rate (18%) for four years followed by a perpetual constant 6% growth from the fifth year on. All the dollar numbers are in millions. Period OFCF Calculation Amount Present Value $350 x 1.18! S413.00 w OFCF 1 2 B OFCF 2 OFCF 3 3 D 4 OFCF 4 E F OFCF G H G/(WACC - normal growth rate) Present value of H at year 0 NPV Requirement: Calculate W, A, B, C, D, E, F, G, H, I, and J. Round all the numbers to two digits after decimal point