in this section, the focus is on determining the market equity value of an enterprise, Superstore, as of 1/1/2009 using the WACC method. The first step is to calculate the total enterprise value of Superstore. Second, the value of interest- bearing debt as of the 1/1/2009 is deducted to determine the equity value as of 1/1/2009. The historical and forecasted balance sheets and income statements of Superstore and cash flow statements are provided in Exhibit 8. With the help of these cash flow statements, the expected FCFs can be determined.Thereafter, the FCFs will be discounted by the Superstore WACC.