Table 1.

The optimal solutions with varying discount rates and finite planning horizon.

	DCF model				Profit model
r	p	T	Q	PVL	p	T	Q	Π	PVL
0.005	3.48	7.5	646.85	5226.29	3.93	3	233.2	239.47	5042.93
0.01	3.49	6	521.18	4835.83	3.93	3	233.2	239.47	4680.18
0.015	3.49	5	436.47	4486.50	3.93	3	233.2	239.47	4351.56
0.02	3.49	30/7	375.48	4172.08	3.93	3	233.2	239.47	4053.46
0.025	3.49	30/7	375.08	3888.33	3.93	3	233.2	239.47	3782.66
0.03	3.5	3.75	329.16	3631.60	3.93	3	233.2	239.47	3536.33

Column 1, DCF Model, the optimal outcome of the DCF model by considering inflation and time value; Column 2, Profit model, the outcome of the Profit model without accounting for them.

NOTE: The PVL value in Column 1 is calculated by bringing the values of p and T into the DCF model.