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2. (DCF of perpetuity) Walters Inc. has an anticipated next-year free cash flow (FCF) of $10 million. This cash flow is anticipated to grow at

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2. (DCF of perpetuity) Walters Inc. has an anticipated next-year free cash flow (FCF) of $10 million. This cash flow is anticipated to grow at an annual rate of 5%. a. If the FCFs occur at year-end and the WACC of Walters is 15%, what is the enterprise value of the company? b. How would your answer change if the cash flows occur in mid-year

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