Using the discounted cash flow approach on the levels of cash flow we calculated (see the table in question 1):
Firm value = ($13 / 1.181) + ($16 / 1.182) + ($21 / 1.183) + ($23 / 1.184) + ($223.7 / 1.184)
=$11.0 + $11.5 + $12.8 + $11.9 + $115.4
= $162.6 million
