There are so many templates. You can write a simple letter. Or make a proposal for your work. The graphics are great and so easy to insert. With options like text boxes and the ability to add photos, everyone can turn out professional looking documents using Microsoft Word templates. Simple tasks such as making a sign for your yard sale or a family newsletter can really be fun to create with a template. You will even find that you will be helped with printing. When you discover how much you can create when you use a Word template you might even wonder how you got along without using them before.
Finally, when applying discount factors, where do you intend to get your discount numbers? For a company with existing debt and equity capital you can calculate WACC and use that. For a startup company you need to figure out a risk_adjusted cost of capital that makes sense. Usually this is not just a risk_free rate which only the largest companies in the world have access to. It's probably something higher.