1. A company is forecasted to generate free cash flows of $40 million next year and $60 million the year after (t=2). After that, cash flows are projected to grow at a 2.0% annual rate in perpetuity. The company's cost of capital is 11%. What's its enterprise value today? Answer in $million, rounded to one decimal place (e.g., $12,611,988 = 12.6)

2. Suppose you estimate that a company's enterprise value is $150 million. If it has $20 million debt outstanding, $5 million in cash, and there are 10 million shares outstanding, what's the estimated value of each share? Round to one decimal place.