deletions | additions       diff --git a/section_Building_a_Profitability_Valuation__.tex b/section_Building_a_Profitability_Valuation__.tex  index deee3d9..d50a302 100644  --- a/section_Building_a_Profitability_Valuation__.tex  +++ b/section_Building_a_Profitability_Valuation__.tex 
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\begin{equation}  EV_{t}=IC_{t}+\displaystyle\sum_{i=1}^{K}\frac{A_{t+i}}{(1+WACC)^i}  \end{equation}  Using the notion of persistence rate allows us to simplify even more the valuation equation. The persistence rate $\omega$ is defined as such that $A_{t+1}= \omega^i A_{t}$.