You have been given the summarised financial statement of a company. You are required to forecast the financial statemen for the next three years and value the company using two stage DCF model using free cash flow to firm. Assume a perpetu: growth of 4% for the purpose of valuation. Hint: Perpetual value of cash flow under Gordon growth model can be found using the following formula: FCF1/(kg) where FCF1 represents the free cash flow next year; k represents cost of capital and g represents perpertual growth rate Use the following assumption for this problem Sales is exnected to orow by 15% next vear followed bv 10% and 5% for the subsement two vears Assumptions Use the following assumption for this problem Sales is expected to grow by 15% next year followed by 10% and 5% for the subsequent two years Operating margin is expected to increase by 25bps each year over the next three years Depreciation shall be calculated under WDV method on fixed assets @10\% Capex is expected to be 5% of sales for the year Interest expense is expected to be 15% of loan outstanding Assume no loan is borrowed or repaid Debtors and inventory is expected to be 15% of sales, each. Payables is expected to be 20% of sales all through The weighted average cost of capital for the company is 18%