1. Consider a company which had revenues of $48 million over the last twelve months. Depreciation and amortization expenses were $9 million. Operating margin was 30.3%. It has $31 million of debt, $8 million in cash, and 13 million shares outstanding. Comparable companies are trading at an average trailing EV/EBITDA multiple of 10. How much is each share worth using relative valuation? Round to one decimal place.

2. Consider a company that is forecasted to generate free cash flows of $25 million next year and $29 million the year after. After that, cash flows are projected to grow at a stable rate in perpetuity. The company's cost of capital is 9.3%. The company has $57 million in debt, $19 million of cash, and 20 million shares outstanding. Using an exit multiple for the company's free cash flows (EV/FCFF) of 13, how much is each share worth? Round to one decimal place.

3. An asset is projected to generate 7 annual cash flows of $10,000 starting 7 years from today and a final one-time cash flow of $6,000 in 28 years from today. If the appropriate discount rate is 6.5%, how much is this asset worth today? Round to the nearest dollar.