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20 Pisp Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year 1 2 3 4 5

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20 Pisp Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year 1 2 3 4 5 FCF ($ million) 54.8 69.8 79.5 74.4 826 Thereafter, the free cash flows are expected to grow at the industry average of 3.4% per year. Using the discounted free cash flow model and a weighted average cost of capital of 14.7%: a. Estimate the enterprise value of Heavy Metal b. If Heavy Metal has no excess cash, debt of $317 million, and 36 milion shares outstanding, estimate its share price a. Estimate the enterprise value of Heavy Metal The enterprise value will be $ million (Round to two decimal places) b. If Heavy Metal has no excess cash, debt of $317 million, and 36 milion shares outstanding, estimate its share price. The stock price per share will be $(Round to the nearest cent.) ar A

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