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OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
Com Common Stock Valuation 00000 As of Ju ne 20.2011 Income Approach For the fiscal wan ended December 31. For the lima wan ending December 31. AIM/Cale Business Model 20011 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Revenue $145,455 $70.434 $86,781 $144,552 $270,939 $423,644 $586,943
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
Com Common Stock Valuation 00000 As of Ju ne 20.2011 Income Approach For the fiscal wan ended December 31. For the lima wan ending December 31. AIM/Cale Business Model 20011 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Revenue $145,455 $70.434 $86,781 $144,552 $270,939 $423,644 $586,943
OMMON EQUITY VALUATION REPORT As of June 20, 2011 Cost of Equity — Capital Asset Pricing Model To estimate The Company's cost of equity financing, the Capital Asset Pricing Model ("CAPM") was utilized. The CAPM measures the return required by investors given a company's risk profile. This model is expressed arithmetically by
Com Common Stock Valuation 00000 As of Ju ne 20.2011 Income Approach For the fiscal wan ended December 31. For the lima wan ending December 31. AIM/Cale Business Model 20011 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Revenue $145,455 $70.434 $86,781 $144,552 $270,939 $423,644 $586,943
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