Cant be factored into a DCF although you will receive a TV value and therefore an intrinsic value per share much much lower given the PV of the 6.5 years without factoring in some 6.5 year + plan for FEX.
It isnt realistic to assume that FEX will just shut up shop upon 6.5 years completing with tens of millions in cash available - you would imagine that generous dividends will be paid out and some allocation of cash would go towards other projects in the vicinity/acquisition which could result in future CF. Which is why a DCF for FEX is tricky given its low 6.5 year LOM.
The discount rate for the risk of FEX and LOM is fine i believe.
Fundamentals, page-9
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