2. DEF currently produces annual free cash flow of 65 billion a year (FCF0 =$65B ). The company has debt of $110 billion and Cash and Marketable Securities of $210 billion. The stock currently trades in the marketplace at $200 and that there are 4.5 billion shares outstanding, Assume that FCF is going to grow at 6% for the next 3 years as they introduce new products and that in year 4 and beyond the FCF will grow at 1%. What is the intrinsic value of the stock given this information? Assume at WACC of 8%