Total Revenue	Capital Expend	EBITDA	Projected Growth Rate	Market Value of Equity	Historical Debt to Value	Total Debt	Cash	Equity Beta	Debt Beta
Auto Manufacturers
Honda Motor	96,196	6,374	12,730	6.9%	51,128	0.507	52,483	11,427	0.68	0.01
Hyundai Motor	63,924	3,385	7,233	6.8%	33,631	0.548	40,802	19,547	0.92	0.02
Tesla Motors	2,411	731	9	94.9%	26,400	0.072	2,051	1,590	1.65	0.04
Toyota Motor	196,622	24,233	30,260	3.2%	186,069	0.442	147,344	40,497	0.58	0.06
Volkswagen	202,458	16,613	23,048	3.5%	52,916	0.724	139,021	34,143	0.75	0.08

• What is the implied required rate of return for Volkswagen?
• Did you add a country (Asia-Pacific) premium? Why/why not?
• What is the break-even salvage value for this project?
• What does this break-even salvage value tell us?