HBR VS STANFORD STUDY USE OF PRE OR POST TAX CASHFLOWS FOR DEBT PAYMENTS.
Has anyone tried to re-build the financial models in "HBR Guide to Buying a Small Business" or the Stanford search fund primer? In the HBR case do they use free cash flows before taxes to pay down interest and both mandatory and discretionary principal debt payments. In the Stanford case, they are using post-tax for similar payments.
If someone has taken the time to build these out I would love to have a quick chat - happy to share my work as well.