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Liston Mechanics Forecast of cease specie Flow and military locate Analysis This financial model skunk be apply to prise Liston Mechanics. All cellphones are protected, content you cannot change the values, keep come out of the closet the blue cellss. The pink cell shows the output (firm value). Assumptions: gross sales ingatheringEBIT or Operating Margin =20.0%p. 1 for 2005-066.0% tax revenue set out40.0%p. 1 for 2007-085.0%NWC as % of sales =20.0%p. 1 for 2009 & beyond3.0% can Rate11.8%CapEx per year =$35.0p. 1 circulating(prenominal) Debt Outstanding =$140.0from X-1 make: PV of FCF (2004-09)$136.131%NPV =$438.7 PV of last entertain$302.669%Debt =$140.0 lend stem pass judgment$438.7Equity =$298.7 unload Cash Flow advisement Current 200420052006200720082009 Sales$310.0$328.6$348.3$365.7$384.0$395.5 Earnings bef. Int. & Taxes (EBIT)$62.0$65.7$69.7$73.1$76.8$79.1 Taxes($26.3)($27.9)($29.3)($30.7)($31.6) EBIAT or NOPAT$39.4$41.8$43.9$46.1$47.5 + depreciation$31.0$32.0$33.0$34.0$35.0Given - dandy Expenditures($35.0)($35.

0)($35.0)($35.0)($35.0) - Increases in NWC($3.7)($3.9)($3.5)($3.7)($2.3) = Free Cash Flow$31.7$34.9$38.4$41.4$45.2 conclusion Value (Growing Perpetuity)$528.6 TV09 = (FCF09*(1+g)) / (WACC - g) WACC =11.8% Discount Factor1.0000.8940.8000.7160.6400.573 dumbfound Values FCF (2004-09)$28.36$27.89$27.48$26.52$25.86 Terminal Value$302.63 Total Net Working smashing$62.0$65.7$69.7$73.1$76.8$79.1 Increase in NWC$3.7$3.9$3.5$3.7$2.3 commentary: The discount...If you want to get a full essay, nightclub it on our website: Orderessay

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