Discounting to the enterprise value is now a relatively mechanical exercise. I need my discount factor, so that's going to be equals one divided by one plus my wack. Make sure I lock onto that wack all to the power of the year that we're in. I then need my free cash flow, so link up to that above. There it is. Once I've got them, I can copy both to the right and then calculate the terminal value. Now we're going to be using the growing perpetuity model, so that means I'm going to take my free cash flow multiplied by one plus the growth rates there. It is all divided by WAC minus that growth rate. Again, I now need to present value both of them. So I'm going to sum product to help me out here. I'm going to multiply my discount factors and my free cash flows, getting me to 3 7 8 4 0.5, and to present value my terminal value, take that terminal value, multiply by the discount factor in that period. And if I now sum the two of them up, that gets me the enterprise value or the implied enterprise value for a TI using the management estimates that we've had.