1,A firm has an expected free cash flow of $4,864,869 by the end of 2018 that is expected to be constant at this level beyond this year forever. If its cost of capital is 5%, what is the value of this firm by the end of 2018?(Please ignore the$sign when submitting youransweras the system will not read it).

2,A project has an initial cost of $1,000,000 and is expected to last for 2 years. In year 1, depreciation charge will be $100,000 and earnings are expected to be $195,700. In year 2, depreciation will be $100,000 and earnings are expected to be $210,934. Assume the required return is 12%. What is the value of this project?(Please ignore the$sign when submitting youransweras the system will not read it).

3,A stock trades for $87 has a book value per share of $32, analysts' EPS forecast for year 1 is $16. The required return is 11%. What is the speculative value implied by the observed market price?(Please ignore the$sign when submitting youransweras the system will not read it).