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Shady Below is information related to a company: (dollar amounts in thousands) 2012 2013 2014 2015 2016 2017 Net Cash Flow from Operations 564 628

Shady Below is information related to a company:

(dollar amounts in thousands)

2012

2013

2014

2015

2016

2017

Net Cash Flow from Operations

564

628

854

1059

1345

1655

Interest Expense after tax

122

134

148

145

155

148

Decrease (Increase) in Cash Required for Operations

-75

-54

-48

-32

-61

-48

Net Cash Flow from Investing

-287

-300

-310

-285

-294

-277

Net Cash from Debt Financing

210

204

140

85

-40

-46

Present Value Factors (WACC = 8.5%)

0.922

0.849

0.783

0.722

0.665

Using a five-year forecast horizon compute the sum of the present value of free cash flows accruing to all debt and common equity holders for years 2012 to 2016.

a.

3,245

b.

2,551

c.

6,792

d.

2,741

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