. . 11. (15 pts) Assume that today is December 31, 2020, and the following information applies to General Motors (GM): After-tax operating income (EBIT(1-T)] for 2021 is expected to be $4.864 billion Depreciation expense is expected to be 18% of after-tax operating income in 2021 Capital expenditures are expected to be $1.250 billion in 2021 Net operating working capital is expected to increase by $435 million Free Cash Flow is expected to grow at a constant rate of 4.85% per year The required rate of return on equity is 10.25% The WACC is 8.40% GM has $840 million of non-operating assets The market value of the company's debt is $14.6 billion GM currently has 900 million shares outstanding Using the corporate valuation model approach, what should be the company's stock price today