SEL-DCF

	A	B	C	D
1
2	Initial Cash Flow:	51
3	Years:	1 to 5	6 to 10
4	Growth Rate:	10%	5%
5	Terminal Rate	2.00%
6	Discount Rate	15.00%
7	Debt Level:	0
8	Year	Cash Flow	Growth	Value
9	1	56	10%	48
10	2	62	10%	46
11	3	68	10%	44
12	4	75	10%	42
13	5	82	10%	40
14	6	86	5%	36
15	7	91	5%	33
16	8	95	5%	30
17	9	100	5%	28
18	10	105	5%	25
19	Terminal Year	107
20	PV of Year 1-10 Cash Flows:	372
21	Terminal Value:	203
22	Total PV of Cash Flows:	575
23	Less-Debt:	0
24	Intrinsic value:	575
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