1. Consider a company that is forecasted to generate free cash flows of $29 million next year and $24 million the year after. After that, cash flows are projected to grow at a stable rate of 1.7% in perpetuity. The company's cost of capital is 10.1%. The company has $36 million in debt, $10 million of cash, and 24 million shares outstanding. How much is each share worth? Round to one decimal place.

2. Consider the following information about five bonds. Which bonds price should be the least sensitive to changes in interest rates?

Bond	Coupon rate	Maturity
A	3%	10 years
B	4%	30 years
C	3%	30 years
D	2%	10 years
E	4%	10 years

		A
		B
		C
		D
		E