Please discuss exhibits 14.1 and 14.2. Specifically, discuss how you believe fundamental value drivers impact firm value.

Exhibit 14.1. Fundamentals of Valuation Analyze Fundamental Determinants of Firm Value: Earnings, Cash Flows, Dividends, Growth, Risk Forecast Future Financial Statements and Derive Fundamental Value Drivers over the Remaining Life of the Firm: Expected Future Earnings, Cash Flows, Dividends, Risk Compute: Firm Value = Book Value of Common Equity + Present Value of Expected Future Residual Income = Present Value of Expected Future Free Cash Flows to Common Equity Shareholders = Present Value of Expected Future Dividends Share Value Exhibit 14.2. Market Multiples Analyze Fundamental Determinants of Firm Value: Earnings, Cash Flows, Dividends, Growth, Risk Summary Accounting Numbers: Book Value of Common Equity per Share, Earnings per Share, Long-Run Earnings Growth Market Multiples: Market-to-Book, Price-Earnings, Price-Earnings-Growth Share Value