Today is the 31 st of December 2014 , and Hipersierra Inc. presents the following forecast of its Income Statement and Blanace Sheet for the following 5 years. After this period, it estimates the business will grow at 3,5% per annum. The beta for Hipersierra is 1,5 . The return of the risk free asset is 4%, and the expected market return for the equity markets is currently estimated at 9,5%. Hipersierra Inc. Estimated that, under current market conditions, and given its business risk, the cost of its debt would be 11%. Its current Net Debt amounts to 30 million euros. The market Price of Hipersierra shares is 19 euros, and there are 5 million outstanding shares. For 2015 , there are 14mn euros of planned investments, both for Fixed assets (Capex) and Net Working Capital combined. After that, the investment plan would produce the forecasted Balance Sheets mentioned above. 1. Find out the Market Value of the Equity of Hipersierra using a DCF approach. For the Terminal Value use the perpetuity model. Please mention (there is no need to explain) the steps of the DCF model as you calculate it. Today is the 31 st of December 2014 , and Hipersierra Inc. presents the following forecast of its Income Statement and Blanace Sheet for the following 5 years. After this period, it estimates the business will grow at 3,5% per annum. The beta for Hipersierra is 1,5 . The return of the risk free asset is 4%, and the expected market return for the equity markets is currently estimated at 9,5%. Hipersierra Inc. Estimated that, under current market conditions, and given its business risk, the cost of its debt would be 11%. Its current Net Debt amounts to 30 million euros. The market Price of Hipersierra shares is 19 euros, and there are 5 million outstanding shares. For 2015 , there are 14mn euros of planned investments, both for Fixed assets (Capex) and Net Working Capital combined. After that, the investment plan would produce the forecasted Balance Sheets mentioned above. 1. Find out the Market Value of the Equity of Hipersierra using a DCF approach. For the Terminal Value use the perpetuity model. Please mention (there is no need to explain) the steps of the DCF model as you calculate it