... years If your cost of capital is 11 %, then the present value of future cash flows is: (refer to Exhibit for present value tables) $ 23, 218 $ 13 ,442 $ 11 , 612 $ 10 ,808 18 We can estimate total cash ... 1 1.88 1. 33 1. 11 .90 The number of times we convert receivables into cash during the year is measured by: ... forecast The normalized free cash flow within the forecast is $ 11 ,400 A nominal growth rate of 3% will be applied along with a weighted average cost of capital of 15 % Using the dividend growth model,...