1. All Day Electric Motor Scooters is a fast-growing business. Analysts forecast the following free cash flows (in millions) shown below for the next 4 years, after which FCF is expected to grow at a constant 3.75% rate. Flex's WACC is 7.45%. Year FCF 1 -350 2 175 3 225 4 275 a) What is the firm's operational value today? b) Suppose ADEMS has $345 million in debt, $75 million in preferred stock, and 65 million shares of common stock outstanding. The firm has non-operating assets of $195 million. Use this information to determine a per share estimate of the stock price.