1. The cash flow for the Oboy firm's project is -$40 million in year 0 and $19 million in years 1-4, the FCF is expected to grow at a constant rate of 0.029. The firm's discount rate is 0.062. if cash is $4.1 million, the market value of the firm's debt is 12.7 million, and the number of shares outstanding is 5.2 million, estimate the share price using the Discounted free cash flow.

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2. Suppose Ultimate fashion has a project opportunity. The project has an initial cost of $10 million the first year, $2 million the second year and will increase by 0.13 per year thereafter, Ultimate has an equity mcost of capital of 0.056, a capital structure of 40% equity and 60% det, and has a tax rate of 0.33. What is the NPV of this project?