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We will now use the second tab in the Assignment 15 spreadsheet to value a share of Lumber Liquidators stock in 2013. The spreadsheet provides

We will now use the second tab in the Assignment 15 spreadsheet to value a share of Lumber Liquidators stock in 2013. The spreadsheet provides cash flow statement estimates (by Wedbush Securities) for Lumber Liquidators from 2014 through 2018. 2014 2015 2016 2017 2018 EBIT 164.5 207.5 243.6 270.0 291.6 Taxes 62.4 78.6 92.2 92.2 92.2 Depreciation 13.0 14.2 15.6 17.0 18.7 CapEx 17.0 21.0 23.0 25.2 27.6 Change in Working Capital 6.6 -2.9 -2.1 0.0 0.0 Using the estimates from Wedbush Securities, calculate Lumber Liquidators' free cash flow each year from 2014 through 2018. 2014 169.6 2015 169.6 2016 169.6 2017 169.6 2018 169.6

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