PN-102ALtd. is considering the acquisition of T Ltd. with the following projected figures for the next 5 years. In Lakhs) Year 1 2 3 4 5 150 180 220 250 270 Profit before depreciation & Interest Depreciation 30 32 34 36 38 30 28 26 Interest 24 22 Capital Expenditure 20 20 20 20 20 Increase in working capital 30 30 30 30 30 The rate of income tax applicable to T Ltd. is 30%. i. Calculate Free Cash Flows for each year from the above projections. ii. Calculate the terminal value of the target company using a P/E multiple of 12. iii. Assuming a discount rate of 10%, find the total value of the target company under the DCF approach