22) Ace Frisbee Corporation is expected to pay $3.24 dividend in one year, $4.67 dividend in two years, and $6 dividend in three years from now. After three years, dividends are expected to increase at the rate of 2% per year. If the appropriate required return for the stock is 8%, the stock should be worth today, A) $81.23 B) $83.26 C) $92.74 D) $103.58 23) Under Armour, Inc. is expected to generate the following free cash flows over the next three years: After that, the free cash flows are expected to grow at the industry average of 3.17 per year. Using the discounted free cash flow model and a weighted average cost of capital of 12%, the enterprise value of Under Armour is closest to A) 51.57 B) 53.80 C) 46.37 D) 40.44