[faniacca]

Thank you, Sir. It’s clear for me now.

[faniacca]

Thank you, sir.

[faniacca]

Ok, get it. It’s the rule. Thank you, sir.

[faniacca]

Or can it use 4%, the risk free rate of return?

[faniacca]

Thank you very much, sir. It’s clear for me now.

I’m ll post my question as your request in the future.

[faniacca]

Of course I know the share growth model. That is not my question. The year 1cash flow is discounted by 1 year discount factor which is 0.909. But why year 2 still using the I year discount factor 0.909. Discount that terminal value to present time shouldn’t it use 0.826.

Thanks for your reply, but you don’t get what I mean.

[faniacca]

Thanks, Mike

[faniacca]

Hi muneebnawaz90, I know how the numbers come up, but I think that’s wrong.

[faniacca]

Thanks Gaquik, that’s what I’m trying to say.

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