Over the last twenty years there has been considerable consolidation in the confectionary business (e.g, the acquisition of Rowntree PLC by Nestle SA in 1988 and Cadbury by Kraft in 2010). You have a suspicion that a large food manufacturer might try to buy Tootsie Roll. You want to calculate a DCF valuation for Tootsie Roll first step in your valuation is calculate Tootsle Rolfs WACC answer the