M16-02-CapitalCashFlowModel
摘要:Model16-02CapitalCashFlowModel(ExpectedAssetReturnUsingCAPMandWeightedAverage)Year01234567891011121314151617NetrevenuesRevenuegrowthrateNOI=EBITCashtaxrate(T)IncometaxesNOPAT+Depreciation–Changeinworkingcapital–Capitalexpenditures–ChangeinotherassetsnetFreecashflowsYear1Year2Year3Year4PanelA–InputsforPresentValueCalculations$5,000$5,400$5,832$6,299$8.0%8.0%8.0%$$500$40.0%2003002505010021632427054108$583$40.0%23335029258117630$40.0%25237831563126$Yearn+16,802$8.0%7,347$8.0%7,5673.0%680$40.0%735$40.0%60540.0%27240834068136$29444136773147$$2423632653876$54378$58408$63441$68476$73514$76439InterestexpenseInteresttaxshield$$400160$$380152$$300120$$20080$$15060$$10040Capitalcashflow(CCF
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