Prob. 1 JTM Rates: Discount rate 7.0% Option Pricing: Risk-free rate 2.5% PV of Cap. Ex. (Yrs. 1-2) Scenario: No Real Options Maturity Start 1 2 3 4 5 6 PV of NCF Cash from Operations 2.3 3.1 3.8 4.6 5.3 6.1 Risk free rate minus: Capital Expenditures 1.0 2.2 3.0 3.7...
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