Use the following data in the models indicated below to estimate the equity value of your subject firm, "Company X." Terminal Period Explicit Forecast Year 1 1,225,000.000 1,300,000.000 1,275,000.000 250,000.000 Year 2 1,280,125.000 1,358,500.000 1,332,375.000 261,250.000 Year 3 1,337,730.625 1,419,632.500 1,392,331.875 273,006.250 Year 4 1,397,928.503 1,483,515.963 1,454,986.809 285,291.531 Year 5 1,460,835.286 1,550,274,181 1,520,461.216 298,129.650 Free Cash Flow (FCFF) Unlevered Cash Flow (UCF) Equity Cash Flow (FCFE) Interest expense Market value of debt Cash & Financial Investments Kd (Cost of Debt) WACC (Weighted Average Cost of Capital) Ku (Unlevered Cost of Capital) Ke (Cost of Equity) Shares Outstanding Terminal Growth Rate Current Figures Year 0 1,172,248.804 1,244,019.139 1,220,095.694 239,234.450 5,000,000.000 3,000,000.000 5.00% 12.04% 12.50% 15.83% 1,000,000 4.509 Corporate Valuation Model: Discounting Free Cash Flows at WACC WACC (Weighted Average Cost of Capital) 12.04% Forecast Year: 3 1 1,225,000.000 2 1,280, 125.000 4 1,397,928.503 5 1,460,835.286 1,337,730.625 Free cash flow (FCFF) ( Terminal value present values Value of Operations minus Market Value of Debt equals Equity Value of Operations plus Cash & Financial Investments & equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share Adjusted Present Value Model: Discounting Unlevered Cash Flows at Unlevered Cost of Capital Ku (Unlevered Cost of Capital) 12.50% Forecast Year: 1 1,300,000.000 2 1,358,500.000 3 1,419,632.500 4 1,483,515.963 5 1,550,274.181 UCF (Unlevered Cash Flow) Terminal value present values Value of Operations minus Market Value of Debt equals Equity Value of Operations plus Cash & Financial Investments equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share Equity Cash Flow Model: Discounting Equity Cash Flows at Cost of Equity Ke (Cost of Equity) 15.83% Forecast Year: 1,275,000.000 1,332,375.000 1,392,331.875 1,454,986.809 1,520,461.216 Equity cash flow (FCFE) Terminal value present values Equity Value of Operations plus Cash & Financial Investments equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share Use the following data in the models indicated below to estimate the equity value of your subject firm, "Company X." Terminal Period Explicit Forecast Year 1 1,225,000.000 1,300,000.000 1,275,000.000 250,000.000 Year 2 1,280,125.000 1,358,500.000 1,332,375.000 261,250.000 Year 3 1,337,730.625 1,419,632.500 1,392,331.875 273,006.250 Year 4 1,397,928.503 1,483,515.963 1,454,986.809 285,291.531 Year 5 1,460,835.286 1,550,274,181 1,520,461.216 298,129.650 Free Cash Flow (FCFF) Unlevered Cash Flow (UCF) Equity Cash Flow (FCFE) Interest expense Market value of debt Cash & Financial Investments Kd (Cost of Debt) WACC (Weighted Average Cost of Capital) Ku (Unlevered Cost of Capital) Ke (Cost of Equity) Shares Outstanding Terminal Growth Rate Current Figures Year 0 1,172,248.804 1,244,019.139 1,220,095.694 239,234.450 5,000,000.000 3,000,000.000 5.00% 12.04% 12.50% 15.83% 1,000,000 4.509 Corporate Valuation Model: Discounting Free Cash Flows at WACC WACC (Weighted Average Cost of Capital) 12.04% Forecast Year: 3 1 1,225,000.000 2 1,280, 125.000 4 1,397,928.503 5 1,460,835.286 1,337,730.625 Free cash flow (FCFF) ( Terminal value present values Value of Operations minus Market Value of Debt equals Equity Value of Operations plus Cash & Financial Investments & equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share Adjusted Present Value Model: Discounting Unlevered Cash Flows at Unlevered Cost of Capital Ku (Unlevered Cost of Capital) 12.50% Forecast Year: 1 1,300,000.000 2 1,358,500.000 3 1,419,632.500 4 1,483,515.963 5 1,550,274.181 UCF (Unlevered Cash Flow) Terminal value present values Value of Operations minus Market Value of Debt equals Equity Value of Operations plus Cash & Financial Investments equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share Equity Cash Flow Model: Discounting Equity Cash Flows at Cost of Equity Ke (Cost of Equity) 15.83% Forecast Year: 1,275,000.000 1,332,375.000 1,392,331.875 1,454,986.809 1,520,461.216 Equity cash flow (FCFE) Terminal value present values Equity Value of Operations plus Cash & Financial Investments equals Intrinsic Value of Equity divided by Shares Outstanding equals Implied Price per Share