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Revenue Growth 8.0% Steady State 5.9% COGS 53.0% WACC 10.9% SG&A 19.0% Tax Rate 39.0% Net working capital (NWC) 22.0% Year 0 Year 1 Year

Revenue Growth 8.0% Steady State 5.9% COGS 53.0% WACC 10.9% SG&A 19.0% Tax Rate 39.0% Net working capital (NWC) 22.0% Year 0 Year 1 Year 2 Revenue Growth ($ thousands) 9,750 10,000 COGS Gross Prof...

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