GROWTH OF A FIRM &   CapitalProfitReinvest.Dividend  
VALUE OF ITS SHARE tK=K(-1)+IY=bKI=aYD=(1-a)Y  
IN $ PER SHARE 0=$C$7=E3*$C$5=$C$4*F3=(1-$C$4)*F3 
Reinvestment ratioa0.2=D3+1=E3+G3=E4*$C$5=$C$4*F4=(1-$C$4)*F4  
Profit (ROE)b0.3=D4+1=E4+G4=E5*$C$5=$C$4*F5=(1-$C$4)*F5 
Discount Rater0.15=D5+1=E5+G5=E6*$C$5=$C$4*F6=(1-$C$4)*F6  
Initial CapitalKo20=D6+1=E6+G6=E7*$C$5=$C$4*F7=(1-$C$4)*F7  
Initial Profit Yo=$C$5*$C$7=D7+1=E7+G7=E8*$C$5=$C$4*F8=(1-$C$4)*F8 
Initial DividendDo=(1-$C$4)*$C$8=D8+1=E8+G8=E9*$C$5=$C$4*F9=(1-$C$4)*F9  
Rate of Growthg=$C$4*$C$5=D9+1=E9+G9=E10*$C$5=$C$4*F10=(1-$C$4)*F10  
=IF($C$10>=$C$6," g<r","")  =D10+1=E10+G10=E11*$C$5=$C$4*F11=(1-$C$4)*F11 
Value of a share =D11+1=E11+G11=E12*$C$5=$C$4*F12=(1-$C$4)*F12 
PV of dividend flowPVa=NPV($C$6,H3:H306)=D12+1=E12+G12=E13*$C$5=$C$4*F13=(1-$C$4)*F13 
PV = Do/(r-g)PVb=H3/($C$6-$C$10)=D13+1=E13+G13=E14*$C$5=$C$4*F14=(1-$C$4)*F14 
 =D14+1=E14+G14=E15*$C$5=$C$4*F15=(1-$C$4)*F15 
 =D15+1=E15+G15=E16*$C$5=$C$4*F16=(1-$C$4)*F16 
 =D16+1=E16+G16=E17*$C$5=$C$4*F17=(1-$C$4)*F17 
 =D17+1=E17+G17=E18*$C$5=$C$4*F18=(1-$C$4)*F18 
 =D18+1=E18+G18=E19*$C$5=$C$4*F19=(1-$C$4)*F19 
  =D19+1=E19+G19=E20*$C$5=$C$4*F20=(1-$C$4)*F20  
 =D20+1=E20+G20=E21*$C$5=$C$4*F21=(1-$C$4)*F21 
 =D21+1=E21+G21=E22*$C$5=$C$4*F22=(1-$C$4)*F22 
 =D22+1=E22+G22=E23*$C$5=$C$4*F23=(1-$C$4)*F23 
 =D23+1=E23+G23=E24*$C$5=$C$4*F24=(1-$C$4)*F24 
 =D24+1=E24+G24=E25*$C$5=$C$4*F25=(1-$C$4)*F25  
 =D25+1=E25+G25=E26*$C$5=$C$4*F26=(1-$C$4)*F26 
 =D26+1=E26+G26=E27*$C$5=$C$4*F27=(1-$C$4)*F27 
 =D27+1=E27+G27=E28*$C$5=$C$4*F28=(1-$C$4)*F28 
 =D28+1=E28+G28=E29*$C$5=$C$4*F29=(1-$C$4)*F29 
 =D29+1=E29+G29=E30*$C$5=$C$4*F30=(1-$C$4)*F30 
 =D30+1=E30+G30=E31*$C$5=$C$4*F31=(1-$C$4)*F31 
 =D31+1=E31+G31=E32*$C$5=$C$4*F32=(1-$C$4)*F32 
 =D32+1=E32+G32=E33*$C$5=$C$4*F33=(1-$C$4)*F33 
 =D33+1=E33+G33=E34*$C$5=$C$4*F34=(1-$C$4)*F34 
 =D34+1=E34+G34=E35*$C$5=$C$4*F35=(1-$C$4)*F35 
 =D35+1=E35+G35=E36*$C$5=$C$4*F36=(1-$C$4)*F36 
 =D36+1=E36+G36=E37*$C$5=$C$4*F37=(1-$C$4)*F37 
 =D37+1=E37+G37=E38*$C$5=$C$4*F38=(1-$C$4)*F38 
 =D38+1=E38+G38=E39*$C$5=$C$4*F39=(1-$C$4)*F39 
 =D39+1=E39+G39=E40*$C$5=$C$4*F40=(1-$C$4)*F40 
 =D40+1=E40+G40=E41*$C$5=$C$4*F41=(1-$C$4)*F41 
 =D41+1=E41+G41=E42*$C$5=$C$4*F42=(1-$C$4)*F42 
 =D42+1=E42+G42=E43*$C$5=$C$4*F43=(1-$C$4)*F43 
 =D43+1=E43+G43=E44*$C$5=$C$4*F44=(1-$C$4)*F44 
 =D44+1=E44+G44=E45*$C$5=$C$4*F45=(1-$C$4)*F45 
 =D45+1=E45+G45=E46*$C$5=$C$4*F46=(1-$C$4)*F46 
 =D46+1=E46+G46=E47*$C$5=$C$4*F47=(1-$C$4)*F47 
 =D47+1=E47+G47=E48*$C$5=$C$4*F48=(1-$C$4)*F48 
 =D48+1=E48+G48=E49*$C$5=$C$4*F49=(1-$C$4)*F49 
 =D49+1=E49+G49=E50*$C$5=$C$4*F50=(1-$C$4)*F50 
 =D50+1=E50+G50=E51*$C$5=$C$4*F51=(1-$C$4)*F51 
 =D51+1=E51+G51=E52*$C$5=$C$4*F52=(1-$C$4)*F52 
 =D52+1=E52+G52=E53*$C$5=$C$4*F53=(1-$C$4)*F53 
 =D53+1=E53+G53=E54*$C$5=$C$4*F54=(1-$C$4)*F54 
 =D54+1=E54+G54=E55*$C$5=$C$4*F55=(1-$C$4)*F55 
 =D55+1=E55+G55=E56*$C$5=$C$4*F56=(1-$C$4)*F56 
 =D56+1=E56+G56=E57*$C$5=$C$4*F57=(1-$C$4)*F57 
 =D57+1=E57+G57=E58*$C$5=$C$4*F58=(1-$C$4)*F58 
 =D58+1=E58+G58=E59*$C$5=$C$4*F59=(1-$C$4)*F59 
 =D59+1=E59+G59=E60*$C$5=$C$4*F60=(1-$C$4)*F60 
 =D60+1=E60+G60=E61*$C$5=$C$4*F61=(1-$C$4)*F61 
 =D61+1=E61+G61=E62*$C$5=$C$4*F62=(1-$C$4)*F62 
 =D62+1=E62+G62=E63*$C$5=$C$4*F63=(1-$C$4)*F63 
 =D63+1=E63+G63=E64*$C$5=$C$4*F64=(1-$C$4)*F64 
 =D64+1=E64+G64=E65*$C$5=$C$4*F65=(1-$C$4)*F65 
 =D65+1=E65+G65=E66*$C$5=$C$4*F66=(1-$C$4)*F66 
 =D66+1=E66+G66=E67*$C$5=$C$4*F67=(1-$C$4)*F67 
 =D67+1=E67+G67=E68*$C$5=$C$4*F68=(1-$C$4)*F68 
 =D68+1=E68+G68=E69*$C$5=$C$4*F69=(1-$C$4)*F69 
 =D69+1=E69+G69=E70*$C$5=$C$4*F70=(1-$C$4)*F70 
 =D70+1=E70+G70=E71*$C$5=$C$4*F71=(1-$C$4)*F71 
 =D71+1=E71+G71=E72*$C$5=$C$4*F72=(1-$C$4)*F72 
 =D72+1=E72+G72=E73*$C$5=$C$4*F73=(1-$C$4)*F73 
 =D73+1=E73+G73=E74*$C$5=$C$4*F74=(1-$C$4)*F74 
 =D74+1=E74+G74=E75*$C$5=$C$4*F75=(1-$C$4)*F75 
 =D75+1=E75+G75=E76*$C$5=$C$4*F76=(1-$C$4)*F76 
 =D76+1=E76+G76=E77*$C$5=$C$4*F77=(1-$C$4)*F77 
 =D77+1=E77+G77=E78*$C$5=$C$4*F78=(1-$C$4)*F78 
 =D78+1=E78+G78=E79*$C$5=$C$4*F79=(1-$C$4)*F79 
 =D79+1=E79+G79=E80*$C$5=$C$4*F80=(1-$C$4)*F80 
 =D80+1=E80+G80=E81*$C$5=$C$4*F81=(1-$C$4)*F81 
 =D81+1=E81+G81=E82*$C$5=$C$4*F82=(1-$C$4)*F82 
 =D82+1=E82+G82=E83*$C$5=$C$4*F83=(1-$C$4)*F83 
 =D83+1=E83+G83=E84*$C$5=$C$4*F84=(1-$C$4)*F84 
 =D84+1=E84+G84=E85*$C$5=$C$4*F85=(1-$C$4)*F85 
 =D85+1=E85+G85=E86*$C$5=$C$4*F86=(1-$C$4)*F86 
 =D86+1=E86+G86=E87*$C$5=$C$4*F87=(1-$C$4)*F87 
 =D87+1=E87+G87=E88*$C$5=$C$4*F88=(1-$C$4)*F88 
 =D88+1=E88+G88=E89*$C$5=$C$4*F89=(1-$C$4)*F89 
 =D89+1=E89+G89=E90*$C$5=$C$4*F90=(1-$C$4)*F90 
 =D90+1=E90+G90=E91*$C$5=$C$4*F91=(1-$C$4)*F91 
 =D91+1=E91+G91=E92*$C$5=$C$4*F92=(1-$C$4)*F92 
 =D92+1=E92+G92=E93*$C$5=$C$4*F93=(1-$C$4)*F93 
 =D93+1=E93+G93=E94*$C$5=$C$4*F94=(1-$C$4)*F94 
 =D94+1=E94+G94=E95*$C$5=$C$4*F95=(1-$C$4)*F95 
 =D95+1=E95+G95=E96*$C$5=$C$4*F96=(1-$C$4)*F96 
 =D96+1=E96+G96=E97*$C$5=$C$4*F97=(1-$C$4)*F97 
 =D97+1=E97+G97=E98*$C$5=$C$4*F98=(1-$C$4)*F98 
 =D98+1=E98+G98=E99*$C$5=$C$4*F99=(1-$C$4)*F99 
 =D99+1=E99+G99=E100*$C$5=$C$4*F100=(1-$C$4)*F100 
 =D100+1=E100+G100=E101*$C$5=$C$4*F101=(1-$C$4)*F101 
 =D101+1=E101+G101=E102*$C$5=$C$4*F102=(1-$C$4)*F102 
 =D102+1=E102+G102=E103*$C$5=$C$4*F103=(1-$C$4)*F103 
 =D103+1=E103+G103=E104*$C$5=$C$4*F104=(1-$C$4)*F104 
 =D104+1=E104+G104=E105*$C$5=$C$4*F105=(1-$C$4)*F105 
 =D105+1=E105+G105=E106*$C$5=$C$4*F106=(1-$C$4)*F106 
 =D106+1=E106+G106=E107*$C$5=$C$4*F107=(1-$C$4)*F107 
 =D107+1=E107+G107=E108*$C$5=$C$4*F108=(1-$C$4)*F108 
 =D108+1=E108+G108=E109*$C$5=$C$4*F109=(1-$C$4)*F109 
 =D109+1=E109+G109=E110*$C$5=$C$4*F110=(1-$C$4)*F110 
 =D110+1=E110+G110=E111*$C$5=$C$4*F111=(1-$C$4)*F111 
 =D111+1=E111+G111=E112*$C$5=$C$4*F112=(1-$C$4)*F112 
 =D112+1=E112+G112=E113*$C$5=$C$4*F113=(1-$C$4)*F113 
 =D113+1=E113+G113=E114*$C$5=$C$4*F114=(1-$C$4)*F114 
 =D114+1=E114+G114=E115*$C$5=$C$4*F115=(1-$C$4)*F115 
 =D115+1=E115+G115=E116*$C$5=$C$4*F116=(1-$C$4)*F116 
 =D116+1=E116+G116=E117*$C$5=$C$4*F117=(1-$C$4)*F117 
 =D117+1=E117+G117=E118*$C$5=$C$4*F118=(1-$C$4)*F118 
 =D118+1=E118+G118=E119*$C$5=$C$4*F119=(1-$C$4)*F119 
 =D119+1=E119+G119=E120*$C$5=$C$4*F120=(1-$C$4)*F120 
 =D120+1=E120+G120=E121*$C$5=$C$4*F121=(1-$C$4)*F121 
 =D121+1=E121+G121=E122*$C$5=$C$4*F122=(1-$C$4)*F122 
 =D122+1=E122+G122=E123*$C$5=$C$4*F123=(1-$C$4)*F123 
 =D123+1=E123+G123=E124*$C$5=$C$4*F124=(1-$C$4)*F124 
 =D124+1=E124+G124=E125*$C$5=$C$4*F125=(1-$C$4)*F125 
 =D125+1=E125+G125=E126*$C$5=$C$4*F126=(1-$C$4)*F126 
 =D126+1=E126+G126=E127*$C$5=$C$4*F127=(1-$C$4)*F127 
 =D127+1=E127+G127=E128*$C$5=$C$4*F128=(1-$C$4)*F128 
 =D128+1=E128+G128=E129*$C$5=$C$4*F129=(1-$C$4)*F129 
 =D129+1=E129+G129=E130*$C$5=$C$4*F130=(1-$C$4)*F130 
 =D130+1=E130+G130=E131*$C$5=$C$4*F131=(1-$C$4)*F131 
 =D131+1=E131+G131=E132*$C$5=$C$4*F132=(1-$C$4)*F132 
 =D132+1=E132+G132=E133*$C$5=$C$4*F133=(1-$C$4)*F133 
 =D133+1=E133+G133=E134*$C$5=$C$4*F134=(1-$C$4)*F134 
 =D134+1=E134+G134=E135*$C$5=$C$4*F135=(1-$C$4)*F135 
 =D135+1=E135+G135=E136*$C$5=$C$4*F136=(1-$C$4)*F136 
 =D136+1=E136+G136=E137*$C$5=$C$4*F137=(1-$C$4)*F137 
 =D137+1=E137+G137=E138*$C$5=$C$4*F138=(1-$C$4)*F138 
 =D138+1=E138+G138=E139*$C$5=$C$4*F139=(1-$C$4)*F139 
 =D139+1=E139+G139=E140*$C$5=$C$4*F140=(1-$C$4)*F140 
 =D140+1=E140+G140=E141*$C$5=$C$4*F141=(1-$C$4)*F141 
 =D141+1=E141+G141=E142*$C$5=$C$4*F142=(1-$C$4)*F142 
 =D142+1=E142+G142=E143*$C$5=$C$4*F143=(1-$C$4)*F143 
 =D143+1=E143+G143=E144*$C$5=$C$4*F144=(1-$C$4)*F144 
 =D144+1=E144+G144=E145*$C$5=$C$4*F145=(1-$C$4)*F145 
 =D145+1=E145+G145=E146*$C$5=$C$4*F146=(1-$C$4)*F146 
 =D146+1=E146+G146=E147*$C$5=$C$4*F147=(1-$C$4)*F147 
 =D147+1=E147+G147=E148*$C$5=$C$4*F148=(1-$C$4)*F148 
 =D148+1=E148+G148=E149*$C$5=$C$4*F149=(1-$C$4)*F149 
 =D149+1=E149+G149=E150*$C$5=$C$4*F150=(1-$C$4)*F150 
 =D150+1=E150+G150=E151*$C$5=$C$4*F151=(1-$C$4)*F151 
 =D151+1=E151+G151=E152*$C$5=$C$4*F152=(1-$C$4)*F152 
 =D152+1=E152+G152=E153*$C$5=$C$4*F153=(1-$C$4)*F153 
 =D153+1=E153+G153=E154*$C$5=$C$4*F154=(1-$C$4)*F154 
 =D154+1=E154+G154=E155*$C$5=$C$4*F155=(1-$C$4)*F155 
 =D155+1=E155+G155=E156*$C$5=$C$4*F156=(1-$C$4)*F156 
 =D156+1=E156+G156=E157*$C$5=$C$4*F157=(1-$C$4)*F157 
 =D157+1=E157+G157=E158*$C$5=$C$4*F158=(1-$C$4)*F158 
 =D158+1=E158+G158=E159*$C$5=$C$4*F159=(1-$C$4)*F159 
 =D159+1=E159+G159=E160*$C$5=$C$4*F160=(1-$C$4)*F160 
 =D160+1=E160+G160=E161*$C$5=$C$4*F161=(1-$C$4)*F161 
 =D161+1=E161+G161=E162*$C$5=$C$4*F162=(1-$C$4)*F162 
 =D162+1=E162+G162=E163*$C$5=$C$4*F163=(1-$C$4)*F163 
 =D163+1=E163+G163=E164*$C$5=$C$4*F164=(1-$C$4)*F164 
 =D164+1=E164+G164=E165*$C$5=$C$4*F165=(1-$C$4)*F165 
 =D165+1=E165+G165=E166*$C$5=$C$4*F166=(1-$C$4)*F166 
 =D166+1=E166+G166=E167*$C$5=$C$4*F167=(1-$C$4)*F167 
 =D167+1=E167+G167=E168*$C$5=$C$4*F168=(1-$C$4)*F168 
 =D168+1=E168+G168=E169*$C$5=$C$4*F169=(1-$C$4)*F169 
 =D169+1=E169+G169=E170*$C$5=$C$4*F170=(1-$C$4)*F170 
 =D170+1=E170+G170=E171*$C$5=$C$4*F171=(1-$C$4)*F171 
 =D171+1=E171+G171=E172*$C$5=$C$4*F172=(1-$C$4)*F172 
 =D172+1=E172+G172=E173*$C$5=$C$4*F173=(1-$C$4)*F173 
 =D173+1=E173+G173=E174*$C$5=$C$4*F174=(1-$C$4)*F174 
 =D174+1=E174+G174=E175*$C$5=$C$4*F175=(1-$C$4)*F175 
 =D175+1=E175+G175=E176*$C$5=$C$4*F176=(1-$C$4)*F176 
 =D176+1=E176+G176=E177*$C$5=$C$4*F177=(1-$C$4)*F177 
 =D177+1=E177+G177=E178*$C$5=$C$4*F178=(1-$C$4)*F178 
 =D178+1=E178+G178=E179*$C$5=$C$4*F179=(1-$C$4)*F179 
 =D179+1=E179+G179=E180*$C$5=$C$4*F180=(1-$C$4)*F180 
 =D180+1=E180+G180=E181*$C$5=$C$4*F181=(1-$C$4)*F181 
 =D181+1=E181+G181=E182*$C$5=$C$4*F182=(1-$C$4)*F182 
 =D182+1=E182+G182=E183*$C$5=$C$4*F183=(1-$C$4)*F183 
 =D183+1=E183+G183=E184*$C$5=$C$4*F184=(1-$C$4)*F184 
 =D184+1=E184+G184=E185*$C$5=$C$4*F185=(1-$C$4)*F185 
 =D185+1=E185+G185=E186*$C$5=$C$4*F186=(1-$C$4)*F186 
 =D186+1=E186+G186=E187*$C$5=$C$4*F187=(1-$C$4)*F187 
 =D187+1=E187+G187=E188*$C$5=$C$4*F188=(1-$C$4)*F188 
 =D188+1=E188+G188=E189*$C$5=$C$4*F189=(1-$C$4)*F189 
 =D189+1=E189+G189=E190*$C$5=$C$4*F190=(1-$C$4)*F190 
 =D190+1=E190+G190=E191*$C$5=$C$4*F191=(1-$C$4)*F191 
 =D191+1=E191+G191=E192*$C$5=$C$4*F192=(1-$C$4)*F192 
 =D192+1=E192+G192=E193*$C$5=$C$4*F193=(1-$C$4)*F193 
 =D193+1=E193+G193=E194*$C$5=$C$4*F194=(1-$C$4)*F194 
 =D194+1=E194+G194=E195*$C$5=$C$4*F195=(1-$C$4)*F195 
 =D195+1=E195+G195=E196*$C$5=$C$4*F196=(1-$C$4)*F196 
 =D196+1=E196+G196=E197*$C$5=$C$4*F197=(1-$C$4)*F197 
 =D197+1=E197+G197=E198*$C$5=$C$4*F198=(1-$C$4)*F198 
 =D198+1=E198+G198=E199*$C$5=$C$4*F199=(1-$C$4)*F199 
 =D199+1=E199+G199=E200*$C$5=$C$4*F200=(1-$C$4)*F200 
 =D200+1=E200+G200=E201*$C$5=$C$4*F201=(1-$C$4)*F201 
 =D201+1=E201+G201=E202*$C$5=$C$4*F202=(1-$C$4)*F202 
 =D202+1=E202+G202=E203*$C$5=$C$4*F203=(1-$C$4)*F203 
 =D203+1=E203+G203=E204*$C$5=$C$4*F204=(1-$C$4)*F204 
 =D204+1=E204+G204=E205*$C$5=$C$4*F205=(1-$C$4)*F205 
 =D205+1=E205+G205=E206*$C$5=$C$4*F206=(1-$C$4)*F206 
 =D206+1=E206+G206=E207*$C$5=$C$4*F207=(1-$C$4)*F207 
 =D207+1=E207+G207=E208*$C$5=$C$4*F208=(1-$C$4)*F208 
 =D208+1=E208+G208=E209*$C$5=$C$4*F209=(1-$C$4)*F209 
 =D209+1=E209+G209=E210*$C$5=$C$4*F210=(1-$C$4)*F210 
 =D210+1=E210+G210=E211*$C$5=$C$4*F211=(1-$C$4)*F211 
 =D211+1=E211+G211=E212*$C$5=$C$4*F212=(1-$C$4)*F212 
 =D212+1=E212+G212=E213*$C$5=$C$4*F213=(1-$C$4)*F213 
 =D213+1=E213+G213=E214*$C$5=$C$4*F214=(1-$C$4)*F214 
 =D214+1=E214+G214=E215*$C$5=$C$4*F215=(1-$C$4)*F215 
 =D215+1=E215+G215=E216*$C$5=$C$4*F216=(1-$C$4)*F216 
 =D216+1=E216+G216=E217*$C$5=$C$4*F217=(1-$C$4)*F217 
 =D217+1=E217+G217=E218*$C$5=$C$4*F218=(1-$C$4)*F218 
 =D218+1=E218+G218=E219*$C$5=$C$4*F219=(1-$C$4)*F219 
 =D219+1=E219+G219=E220*$C$5=$C$4*F220=(1-$C$4)*F220 
 =D220+1=E220+G220=E221*$C$5=$C$4*F221=(1-$C$4)*F221 
 =D221+1=E221+G221=E222*$C$5=$C$4*F222=(1-$C$4)*F222 
 =D222+1=E222+G222=E223*$C$5=$C$4*F223=(1-$C$4)*F223 
 =D223+1=E223+G223=E224*$C$5=$C$4*F224=(1-$C$4)*F224 
 =D224+1=E224+G224=E225*$C$5=$C$4*F225=(1-$C$4)*F225 
 =D225+1=E225+G225=E226*$C$5=$C$4*F226=(1-$C$4)*F226 
 =D226+1=E226+G226=E227*$C$5=$C$4*F227=(1-$C$4)*F227 
 =D227+1=E227+G227=E228*$C$5=$C$4*F228=(1-$C$4)*F228 
 =D228+1=E228+G228=E229*$C$5=$C$4*F229=(1-$C$4)*F229 
 =D229+1=E229+G229=E230*$C$5=$C$4*F230=(1-$C$4)*F230 
 =D230+1=E230+G230=E231*$C$5=$C$4*F231=(1-$C$4)*F231 
 =D231+1=E231+G231=E232*$C$5=$C$4*F232=(1-$C$4)*F232 
 =D232+1=E232+G232=E233*$C$5=$C$4*F233=(1-$C$4)*F233 
 =D233+1=E233+G233=E234*$C$5=$C$4*F234=(1-$C$4)*F234 
 =D234+1=E234+G234=E235*$C$5=$C$4*F235=(1-$C$4)*F235 
 =D235+1=E235+G235=E236*$C$5=$C$4*F236=(1-$C$4)*F236 
 =D236+1=E236+G236=E237*$C$5=$C$4*F237=(1-$C$4)*F237 
 =D237+1=E237+G237=E238*$C$5=$C$4*F238=(1-$C$4)*F238 
 =D238+1=E238+G238=E239*$C$5=$C$4*F239=(1-$C$4)*F239 
 =D239+1=E239+G239=E240*$C$5=$C$4*F240=(1-$C$4)*F240 
 =D240+1=E240+G240=E241*$C$5=$C$4*F241=(1-$C$4)*F241 
 =D241+1=E241+G241=E242*$C$5=$C$4*F242=(1-$C$4)*F242 
 =D242+1=E242+G242=E243*$C$5=$C$4*F243=(1-$C$4)*F243 
 =D243+1=E243+G243=E244*$C$5=$C$4*F244=(1-$C$4)*F244 
 =D244+1=E244+G244=E245*$C$5=$C$4*F245=(1-$C$4)*F245 
 =D245+1=E245+G245=E246*$C$5=$C$4*F246=(1-$C$4)*F246 
 =D246+1=E246+G246=E247*$C$5=$C$4*F247=(1-$C$4)*F247 
 =D247+1=E247+G247=E248*$C$5=$C$4*F248=(1-$C$4)*F248 
 =D248+1=E248+G248=E249*$C$5=$C$4*F249=(1-$C$4)*F249 
 =D249+1=E249+G249=E250*$C$5=$C$4*F250=(1-$C$4)*F250 
 =D250+1=E250+G250=E251*$C$5=$C$4*F251=(1-$C$4)*F251 
 =D251+1=E251+G251=E252*$C$5=$C$4*F252=(1-$C$4)*F252 
 =D252+1=E252+G252=E253*$C$5=$C$4*F253=(1-$C$4)*F253 
 =D253+1=E253+G253=E254*$C$5=$C$4*F254=(1-$C$4)*F254 
 =D254+1=E254+G254=E255*$C$5=$C$4*F255=(1-$C$4)*F255 
 =D255+1=E255+G255=E256*$C$5=$C$4*F256=(1-$C$4)*F256 
 =D256+1=E256+G256=E257*$C$5=$C$4*F257=(1-$C$4)*F257 
 =D257+1=E257+G257=E258*$C$5=$C$4*F258=(1-$C$4)*F258 
 =D258+1=E258+G258=E259*$C$5=$C$4*F259=(1-$C$4)*F259 
 =D259+1=E259+G259=E260*$C$5=$C$4*F260=(1-$C$4)*F260 
 =D260+1=E260+G260=E261*$C$5=$C$4*F261=(1-$C$4)*F261 
 =D261+1=E261+G261=E262*$C$5=$C$4*F262=(1-$C$4)*F262 
 =D262+1=E262+G262=E263*$C$5=$C$4*F263=(1-$C$4)*F263 
 =D263+1=E263+G263=E264*$C$5=$C$4*F264=(1-$C$4)*F264 
 =D264+1=E264+G264=E265*$C$5=$C$4*F265=(1-$C$4)*F265 
 =D265+1=E265+G265=E266*$C$5=$C$4*F266=(1-$C$4)*F266 
 =D266+1=E266+G266=E267*$C$5=$C$4*F267=(1-$C$4)*F267 
 =D267+1=E267+G267=E268*$C$5=$C$4*F268=(1-$C$4)*F268 
 =D268+1=E268+G268=E269*$C$5=$C$4*F269=(1-$C$4)*F269 
 =D269+1=E269+G269=E270*$C$5=$C$4*F270=(1-$C$4)*F270 
 =D270+1=E270+G270=E271*$C$5=$C$4*F271=(1-$C$4)*F271 
 =D271+1=E271+G271=E272*$C$5=$C$4*F272=(1-$C$4)*F272 
 =D272+1=E272+G272=E273*$C$5=$C$4*F273=(1-$C$4)*F273 
 =D273+1=E273+G273=E274*$C$5=$C$4*F274=(1-$C$4)*F274 
 =D274+1=E274+G274=E275*$C$5=$C$4*F275=(1-$C$4)*F275 
 =D275+1=E275+G275=E276*$C$5=$C$4*F276=(1-$C$4)*F276 
 =D276+1=E276+G276=E277*$C$5=$C$4*F277=(1-$C$4)*F277 
 =D277+1=E277+G277=E278*$C$5=$C$4*F278=(1-$C$4)*F278 
 =D278+1=E278+G278=E279*$C$5=$C$4*F279=(1-$C$4)*F279 
 =D279+1=E279+G279=E280*$C$5=$C$4*F280=(1-$C$4)*F280 
 =D280+1=E280+G280=E281*$C$5=$C$4*F281=(1-$C$4)*F281 
 =D281+1=E281+G281=E282*$C$5=$C$4*F282=(1-$C$4)*F282 
 =D282+1=E282+G282=E283*$C$5=$C$4*F283=(1-$C$4)*F283 
 =D283+1=E283+G283=E284*$C$5=$C$4*F284=(1-$C$4)*F284 
 =D284+1=E284+G284=E285*$C$5=$C$4*F285=(1-$C$4)*F285 
 =D285+1=E285+G285=E286*$C$5=$C$4*F286=(1-$C$4)*F286 
 =D286+1=E286+G286=E287*$C$5=$C$4*F287=(1-$C$4)*F287 
 =D287+1=E287+G287=E288*$C$5=$C$4*F288=(1-$C$4)*F288 
 =D288+1=E288+G288=E289*$C$5=$C$4*F289=(1-$C$4)*F289 
 =D289+1=E289+G289=E290*$C$5=$C$4*F290=(1-$C$4)*F290 
 =D290+1=E290+G290=E291*$C$5=$C$4*F291=(1-$C$4)*F291 
 =D291+1=E291+G291=E292*$C$5=$C$4*F292=(1-$C$4)*F292 
 =D292+1=E292+G292=E293*$C$5=$C$4*F293=(1-$C$4)*F293 
 =D293+1=E293+G293=E294*$C$5=$C$4*F294=(1-$C$4)*F294 
 =D294+1=E294+G294=E295*$C$5=$C$4*F295=(1-$C$4)*F295 
 =D295+1=E295+G295=E296*$C$5=$C$4*F296=(1-$C$4)*F296 
 =D296+1=E296+G296=E297*$C$5=$C$4*F297=(1-$C$4)*F297 
 =D297+1=E297+G297=E298*$C$5=$C$4*F298=(1-$C$4)*F298 
 =D298+1=E298+G298=E299*$C$5=$C$4*F299=(1-$C$4)*F299 
 =D299+1=E299+G299=E300*$C$5=$C$4*F300=(1-$C$4)*F300 
 =D300+1=E300+G300=E301*$C$5=$C$4*F301=(1-$C$4)*F301 
 =D301+1=E301+G301=E302*$C$5=$C$4*F302=(1-$C$4)*F302 
 =D302+1=E302+G302=E303*$C$5=$C$4*F303=(1-$C$4)*F303 
 =D303+1=E303+G303=E304*$C$5=$C$4*F304=(1-$C$4)*F304 
 =D304+1=E304+G304=E305*$C$5=$C$4*F305=(1-$C$4)*F305 
 =D305+1=E305+G305=E306*$C$5=$C$4*F306=(1-$C$4)*F306 

 

 

 

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