AUDIENCE MEMBER: Good morning. My name is Howard Bask (PH) and I’m from Kansas City. And I’ve got a theoretical value question for you. If you were to buy a business and you bought it at its intrinsic value, what’s the minimum after-tax free cash flow yield you’d need to get?
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1994: What's the minimum after-tax…
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AUDIENCE MEMBER: Good morning. My name is Howard Bask (PH) and I’m from Kansas City. And I’ve got a theoretical value question for you. If you were to buy a business and you bought it at its intrinsic value, what’s the minimum after-tax free cash flow yield you’d need to get?