You are supervising a young analyst trainee who is trying to put together a DCF for assessing the value of a mature packaging company. Looking at her draft you notice several elements:

Sales growth for the first 5 years:	CAPEX per year:	Average yearly Change in Working Capital for the first 5 years:	TV is set as growing perpetuity. Growth rate used:	Rate used to discount all FCFF: 10-year risk-free rate
14%	None	-3%	9%	1.5%

a) List all inconsistencies you see in her assumptions.

b) How will those errors affect her value? Explain