QUESTION $15$

"Before making additional balancing adjustments to the Balance Sheet, what is the forecasted value of Free Cash Flow for $2023?$ Express the

numerical terms of vour answer completely. For example: If your answer is one million dollars, write: $1000000."$

QUESTION $16$

"PART II: Firm X is considering performing a considerable investment in year $2023.$ The value of Firm X $($as of the end of $2022)$ if the investment is

done is estimated at $$150,175,378.$

Consider the following forecasts for $2023-2027$ of the Future Cash Flows, EBITDA and Future Interest Tax Shield for Firm X if the expansion were

NOT to occur. Assume that the EBITDA Multiple is $2.$

Assume a discount factor of $10\%$ for the Free Cash Flows and the Continuation Value, and $10\%$ for the Interest Tax Shield. Assume that the

EBITDA Multiple is $2.$

What is the Present Value $($as of the end of December $2022)$ of the Free Cash Flows forecast of Firm X if the firm where not to do the expansion?"