29. Valuing a business (S4.6) Phoenix Corp. faltered during the Covid pandemic but is recovering. Free cash flow has grown rapidly. Forecasts made in 2021 are as follows: Phoenix's recovery will be complete by 2026 , and there will be no further growth in net income or free cash flow. a. Calculate the PV of free cash flow, assuming a cost of equity of 9%. b. Assume that Phoenix has 12 million shares outstanding. What is the price per share? c. Confirm that the expected rate of return on Phoenix stock is exactly 9% in each of the years from 2022 to 2026