What is an appropriate discount rate to use to value Aquarius Ales? Please show every work

AQUARIUS BALANCE 2004 2005 Year Ending 2004 2005 2006 2006 Assets Cash Accounts Receivable Inventory Other Current Assets B Total Current Assets Plant, property and equipment 5 Depreciation Net PP&E - Other Assets B Total Assets 11,642 13,537 16,456 2,006 2,483 2,822 7,407 8,090 9,193 [c]dc p;dcv 1,171 1,171 22,226 25,281 29,642 32,546 40,050 45,511 3,444 4,005 4,551 $ 29,102 $ 36,045 $ 40,960 18,347 18,583 21,117 69,674 79,909 91,718 Liabilities 1 2 Notes Payable B Accounts Payable Income Tax Payable 5 Other Current Liabilities 5 Total Current Liabilities Long-term Debt B Total Liabilities 2 8,473 9,457 13,458 5,098 6,484 7,343 2,067 2,403 2,731 4,684 6,024 5,944 20,321 24,367 29,475 15,672 12,467 18,022 $ 35,993 $ 36,834 $ 47,497 AQUARIUS AL INCOME STAT. 2004 2005 2006 Year Ending $ 2,004 $ 2,005 $ 2,006 Sales Cost of Goods Sold Vending Revenues Gross Profit Selling, general & administrative expense Depreciation expense Earnings before interest and taxes Interest expense Earnings before taxes Taxes (30%) Profit before taxes 145,022 172,468 205,668 50,758 62,564 69,765 800 900 775 95,064 110,804 136,677 56,725 67,452 78,024 700 750 800 37,640 42,602 57,853 2,220 1,874 2,701 35,420 40,728 55,152 10,626 12,218 16,546 35,420 $ 40,728 $ 55,152 $ $ AQUARIUS BALANCE 2004 2005 Year Ending 2004 2005 2006 2006 Assets Cash Accounts Receivable Inventory Other Current Assets B Total Current Assets Plant, property and equipment 5 Depreciation Net PP&E - Other Assets B Total Assets 11,642 13,537 16,456 2,006 2,483 2,822 7,407 8,090 9,193 [c]dc p;dcv 1,171 1,171 22,226 25,281 29,642 32,546 40,050 45,511 3,444 4,005 4,551 $ 29,102 $ 36,045 $ 40,960 18,347 18,583 21,117 69,674 79,909 91,718 Liabilities 1 2 Notes Payable B Accounts Payable Income Tax Payable 5 Other Current Liabilities 5 Total Current Liabilities Long-term Debt B Total Liabilities 2 8,473 9,457 13,458 5,098 6,484 7,343 2,067 2,403 2,731 4,684 6,024 5,944 20,321 24,367 29,475 15,672 12,467 18,022 $ 35,993 $ 36,834 $ 47,497 AQUARIUS AL INCOME STAT. 2004 2005 2006 Year Ending $ 2,004 $ 2,005 $ 2,006 Sales Cost of Goods Sold Vending Revenues Gross Profit Selling, general & administrative expense Depreciation expense Earnings before interest and taxes Interest expense Earnings before taxes Taxes (30%) Profit before taxes 145,022 172,468 205,668 50,758 62,564 69,765 800 900 775 95,064 110,804 136,677 56,725 67,452 78,024 700 750 800 37,640 42,602 57,853 2,220 1,874 2,701 35,420 40,728 55,152 10,626 12,218 16,546 35,420 $ 40,728 $ 55,152 $ $