Valuation in emerging market

CFA Level II Equities
#1

Hi all,

I am working on Equity topic and get a problem in calculating. In reading 38, Exhibit 4 page 168, the continuing value under nominal projections was 31,063. How can carry out this number? I derived 30,087 instead. As a results, it made derived different DCF value than real projections.

Many thanks all of you

#2

Please post the whole question & answer as I do not have the book on me

#3

I copy key assumption and DCF valuation result for your consideration.

http://www.mediafire.com/i/?3l4xg54v5u5kymd

http://www.mediafire.com/i/?6ltutlpe5v6wr3t

Thank you