Sorry the question is different to this. I can’t find a way to delete this thread so I’ll continue posting my intended question. This is the question: ABC market capitalisation is 240 million USD. This is based on a beta of 1.6 Risk free rate is 4% and market rate of return is 6%. ABC is funded entirely by equity and generates annual cash surplus of 28.8 million USD. The expansion will cost 50 million USD and will generate future cash flows of 12 million USD in perpetuity. New business will reduce beta to 1.4. Calculate APV for the expansion.