2. Galenic Inc. is a wholesaler for a range of pharmaceutical products. The firm has the following data from its financial statements: EBIT $32,000 Tax rate 0.40 Depreciation expense $8,200 Change in net working capital (ANWC) 0 Capital Expenditure (AFA) $3,980 Constant growth rate in FCF 0.04 Current equity beta 1.56 Debt to Equity (D/E) ratio 0.40 Risk free rate of return 0.03 Market risk premium 0.06 Debt amount $52,000 Shares outstanding 300 I What is the intrinsic stock value of Galenic Inc.? (40 MARKS)