NOL (or Net Operating Loss) & DTA in DCF

Hey guys, I've been studying accounting for banking a bit and I ran into this question. How do we account for the nol balance in DCF? How does NOL influence the DCF valuation? I've read threads about how we treat NOL like cash item and subtract from EV but I read on some that NOL increases FCF and increase EV. Help

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NOL (or Net Operating Loss) & DTA in DCF

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NOL (or Net Operating Loss) & DTA in DCF

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