$2.$ Consider the December $31,2022$ and $2021$ balance sheet for the Jasper Company and the income statement for the year ended December $31,2022$:

JASPER COMPANY

Balance Sheets as of December $31,2022$ and $2021$

Assets

$20222021$

Cash $ $405$ $$310$

Accounts receivable $30552640$

Inventory $3,8503,275$

Property, plant, and equipment $($net$)10,67010,960$

Total $$17,980$ $$17,185$

Liabilities and Stockholder$$s Equity

$20222021$

Accounts payable $ $2,5702,720$

Current portion of long$-$term debt payable $0100$

Long$-$term debt $8,1007,875$

Common stock $5,2505,000$

Retained earnings $2,0601,490$

Total $$17,980$ $$17,185$

JASPER COMPANY

$2022$ Income Statement

Sales $$9,610$

Cost of goods sold $6,310$

Gross profit $3,300$

Depreciation expense $1,370$

Earnings before interest and taxes $1,930$

Interest expense $630$

Earnings before taxes $1,300$

Income tax expense $455$

Net income $$845$

a$.$ Jasper Company has $1,000$ shares of common stock outstanding. Under the assumption that FCF$$s will grow by $2$ percent into the foreseeable future, compute an estimate of the price per share based on FCF$$s if investors require a $9$ percent return.