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please show excel formulas using the assumptions provided and I will give a thumbs up! thank you Assumptions begin{tabular}{lr} Additional acres (000) & 10

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please show excel formulas using the assumptions provided and I will give a thumbs up! thank you

Assumptions \begin{tabular}{lr} Additional acres (000) & 10 \\ \hline Price per acre & $20 \\ Fuel cost per acre & $3.75 \\ Annual cost of pilot (000) & $85 \\ Annual cost of assistant (000) & $40 \\ Storage, maint., and ins. Cost (000) & $20 \\ Receivable days & 30 \\ Initial cost of plane (000) & $100 \\ Salvage value of plane in Year 5 & $60 \\ Depreciation rate & 10% \\ Tax rate & 40% \\ Discount rate & 8.50% \\ Inflation rate & 3% \end{tabular} Calculation of Free Cash Flow Year0Year1Year2Year3Year4Year5 Revenue Operatting cash costs Depreciation EBIT Net working capital Net fixed assets Net operating profit after tax plus Depreciation Less CAPEX Less NWC FCF NPV Base Case Inflation Adjusted Case Salvage Value Calculation Expected salvage value Tax on gain Expected after-tax salvage value Calculation of Tax on Gain Expected salvage value Tax on book value Gain Tax on gain (40%) Key steps in your analysis are the following: - Provide assumption inputs in the yellow highlighted cells - Complete the statement of free cash flow Key items of interest in the cash flow statement are the following: Revenue estimate EBIT Net working capital Net fixed assets Net operating profit after tax (NOPAT) CAPEX NWC where NWC=( Revenue x Receivable days )365 FCF NPV= FCF= NOPAT + Depreciation \& Amortization - CAPEX NWC or FCF=NOPATNFANWC where NOPAT = EBIT x(1T) NFA=CAPEX Depreciation \& Amortization Assumptions \begin{tabular}{lr} Additional acres (000) & 10 \\ \hline Price per acre & $20 \\ Fuel cost per acre & $3.75 \\ Annual cost of pilot (000) & $85 \\ Annual cost of assistant (000) & $40 \\ Storage, maint., and ins. Cost (000) & $20 \\ Receivable days & 30 \\ Initial cost of plane (000) & $100 \\ Salvage value of plane in Year 5 & $60 \\ Depreciation rate & 10% \\ Tax rate & 40% \\ Discount rate & 8.50% \\ Inflation rate & 3% \end{tabular} Calculation of Free Cash Flow Year0Year1Year2Year3Year4Year5 Revenue Operatting cash costs Depreciation EBIT Net working capital Net fixed assets Net operating profit after tax plus Depreciation Less CAPEX Less NWC FCF NPV Base Case Inflation Adjusted Case Salvage Value Calculation Expected salvage value Tax on gain Expected after-tax salvage value Calculation of Tax on Gain Expected salvage value Tax on book value Gain Tax on gain (40%) Key steps in your analysis are the following: - Provide assumption inputs in the yellow highlighted cells - Complete the statement of free cash flow Key items of interest in the cash flow statement are the following: Revenue estimate EBIT Net working capital Net fixed assets Net operating profit after tax (NOPAT) CAPEX NWC where NWC=( Revenue x Receivable days )365 FCF NPV= FCF= NOPAT + Depreciation \& Amortization - CAPEX NWC or FCF=NOPATNFANWC where NOPAT = EBIT x(1T) NFA=CAPEX Depreciation \& Amortization

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