business valuation question

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    question name burcolene ….. 1)(they calculated the business value thru discounted cash flow method )…… the company had some optiion scheme for emplyees …. they deducted the option value from the free cash flow value of the firm to get the final value ??? can u plz elaborate y they deducted it ? y not add it as options when exercised will bring cash into the company ?

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    Where is question Burcolene?

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