please look at my formula and let me know if this is correct or what needs to be tweaked thank you.

XIV NPV(83, 08:P911163)*15P10 A c D E F J L M G H JIM Airlines N O P a Rates Discount rate Riik free rate 11 13.0 15 170 05 Cash from Operations Capital Expenditures Net Cash Flow Terminal Value PV of NCF 30 6.5% 3.096 Scenario: No Real Options 1 2 3 4 6 7 S 9 5.0 52 5.3 6,0 740 8.0 9.0 10.0 YO 9.0 9,0 3.0 1.0 3.0 2.0 10 (4.0) (3.8) 2.3 2.0 4.0 6.0 8,0 9.5 11.0 alfonso Gunel +39.9 The NPV function of Excelles quick work of the yearly cash flows by present valung them according Scenario: Real Options to when they happen. The terminal va must also be indided. It can be put in as a year 16 und 8 50 included in the NPV function or as a year 15 cash flow, as done here. 90 10.0 ILO 10 5.0 8.0 95 11.0 10 120 0.1 11.9 12 140 3.0 110 13 15.0 02 14.8 14 160 0.1 15.9 10,0 17.0 67.8 10 120 101 119 11 13.0 3.0 Cash from Operations mus: Capital Expenditures Net Cash Flow Terminal Valve PV of NCE PV of Cap. Ex (Yes. 1-2) 12 140 3.0 11,0 15 17.0 13 15.0 0.2 14.8 14 16.0 0.1 15.9 10.0 17.0 678 962 XIV NPV(83, 08:P911163)*15P10 A c D E F J L M G H JIM Airlines N O P a Rates Discount rate Riik free rate 11 13.0 15 170 05 Cash from Operations Capital Expenditures Net Cash Flow Terminal Value PV of NCF 30 6.5% 3.096 Scenario: No Real Options 1 2 3 4 6 7 S 9 5.0 52 5.3 6,0 740 8.0 9.0 10.0 YO 9.0 9,0 3.0 1.0 3.0 2.0 10 (4.0) (3.8) 2.3 2.0 4.0 6.0 8,0 9.5 11.0 alfonso Gunel +39.9 The NPV function of Excelles quick work of the yearly cash flows by present valung them according Scenario: Real Options to when they happen. The terminal va must also be indided. It can be put in as a year 16 und 8 50 included in the NPV function or as a year 15 cash flow, as done here. 90 10.0 ILO 10 5.0 8.0 95 11.0 10 120 0.1 11.9 12 140 3.0 110 13 15.0 02 14.8 14 160 0.1 15.9 10,0 17.0 67.8 10 120 101 119 11 13.0 3.0 Cash from Operations mus: Capital Expenditures Net Cash Flow Terminal Valve PV of NCE PV of Cap. Ex (Yes. 1-2) 12 140 3.0 11,0 15 17.0 13 15.0 0.2 14.8 14 16.0 0.1 15.9 10.0 17.0 678 962