2.

Using a multi-growth free cash flow model (MGF model), where free cash flows grow at the rate g s for n=4 years then at a constant rate g thereafter, what is the intrinsic value per share for Acme common stock given the following information?:

Item	Value
Shares outstanding	5,691
NCF_op	80,851
NetCapEx	11,014
STI	20,625
LTI	195,461
STD	11,942
LTD	54,617
g s	9.04 %
g	4.44 %
WACC	10.25 %