64 DEBT, EQUITY, FINANCIAL STRUCTURE, AND THE INVESTMENT DECISION
TABLE 4.8 (Continued)
State of CF PVIF PV
Economy Year 3 Year 3 JointProb CF3 ($mm)
3 0.751 0.01575 0.035
20 0.751 0.04725 0.710
30 0.751 0.03150 0.710
40 0.751 0.01050 0.316
3 0.751 0.00675 0.015
20 0.751 0.02025 0.304
30 0.751 0.01350 0.304
40 0.751 0.00450 0.135
Normal 20 0.751 0.00100 0.015
30 0.751 0.00660 0.149
60 0.751 0.01220 0.550
90 0.751 0.00020 0.014
20 0.751 0.00400 0.060
30 0.751 0.02640 0.595
60 0.751 0.04880 2.200
90 0.751 0.00080 0.054
20 0.751 0.01000 0.150
30 0.751 0.06600 1.488
60 0.751 0.12200 5.500
90 0.751 0.00200 0.135
20 0.751 0.00500 0.075
30 0.751 0.03300 0.744
60 0.751 0.06100 2.750
90 0.751 0.00100 0.068
Boom 30 0.751 0.00002 0.000
40 0.751 0.00028 0.008
75 0.751 0.00080 0.045
200 0.751 0.00090 0.135
30 0.751 0.00020 0.005
40 0.751 0.00280 0.084
75 0.751 0.00800 0.451
200 0.751 0.00900 1.352
30 0.751 0.00080 0.018
40 0.751 0.01120 0.337
75 0.751 0.03200 1.803
200 0.751 0.03600 5.409
30 0.751 0.00098 0.022
40 0.751 0.01372 0.412
75 0.751 0.03920 2.209
200 0.751 0.04410 6.627
$40.192