APEX-Agents · Investment Banking
World 225_DM_01
APEX-Agents task World 225_DM_01 in AI Agents for Tax Due Diligence. Compare dual-harness agent runs across models — rubric criteria, scores, and public traces.
Task prompt
What the agent was asked to do
Using the REIT model, recalculate the fair value of Golden Everest with C-Corp status using a three-stage unlevered DCF. For Stage 1, use the unlevered cash flows from 2025E to 2029E on the “Projections (C-Corp)” tab. Assume the valuation date is December 1, 2025 and use the midyear adjustment approach for Stage 1, which assumes CFs are generated halfway through each period rather than at period-end for any partial periods. For Stage 2, grow unlevered FCF at a 5% annual pace for 12 years until 2041). For stage 3, use a perpetuity growth rate of 1%. Assume WACC is 11%. For present value calculations, use a 365 day count. Get me back (1) present value of stage 1 cash flows; (2) present value of stage 2 cash flows; (3) present value of terminal value; and (4) equity value per share. State all values in millions and rounded to the nearest whole number, except equity value per share, which you should show in dollars and cents. Print your reply here.
Published trajectories
Agent runs on this task
Curated dual-harness runs (parsed + original sandbox). Best scored run per model.
| Model | Harness | Score | Result | Links |
|---|---|---|---|---|
| GPT-5.5showcase | dual | 2/4 | Fail | Share pagePublic trace |
| Gemini 3.1 Pro | dual | 1/4 | Fail | Share pagePublic trace |
| GPT-5.4 mini | dual | 2/4 | Fail | Share pagePublic trace |
| GPT-5.4 nano | dual | 2/4 | Fail | Share pagePublic trace |
Grading rubric
Criteria and grader verdict (showcase run)
States present value of stage 1 cash flows is $3,478
FailEvidence: TEXT_RESPONSE states “Present value of Stage 1 cash flows: $3,477.” Assessment: Criterion requires stating PV of stage 1 cash flows is $3,478; the response gives $3,477, so it does not match.
States present value of stage 2 cash flows is $6,584
PassEvidence: TEXT_RESPONSE states “Present value of Stage 2 cash flows: $6,584.” Assessment: Criterion requires $6,584; the response matches exactly.
States present value of stage 3 cash flows is $4,006
PassEvidence: TEXT_RESPONSE states “Present value of terminal value: $4,006.” Assessment: Criterion requires present value of stage 3 cash flows is $4,006; terminal value corresponds to Stage 3 in the task, and the value matches.
States equity value per share is $65.98
FailEvidence: TEXT_RESPONSE states “Equity value per share: $32.74.” Assessment: Criterion requires equity value per share is $65.98; the response gives $32.74, so it fails.