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154.420.04(0.03%) As of 03 o7pmiot maket ooch. To assess whether the stock is over/undervalued, we...

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154.420.04(0.03%) As of 03 o7pmiot maket ooch. To assess whether the stock is over/undervalued, we aim to estimate the share price using Discounted Free Cash Flow approach. Following is Waste Management's sales forecast for the next five years along with the current year of 2023 . In addition, based on the company's past profitability and investment needs, we assume the followings: - EBIT is 15.8% of sales. - Tax rate is 21.6% of EBIT. - Accounts Receivable is expected to be 15.1% of sales. - Accounts Payable is expected to be 16.1% of sales. - No inventory is required. - Capital expenditure is expected to be 11.5% of sales. - Depreciation is expected to be 10.6% of sales. (a) To estimate free cash flows (FCF) for years 1 through 5 , fill the following table

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