Page 45 - FINAL CFA II SLIDES JUNE 2019 DAY 8
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READING 33: PRIVATE COMPANYVALUATION


                                                                                    MODULE 33.2: INCOME-BASED VALUATION




                                                                            Additionally, CAPEX will cover depreciation plus 6% of incremental
                                                                            revenues. Create a pro forma income statement and estimate
                                                                            FCFF.
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