3. (10 points) Assume that capital markets are perfect. LEE Industries is a zero-debt firm with 50 million shares outstanding. LEE has $200 million in cash and expects future free cash flows of $75 million per year forever. Its manager plans to use this $200 million cash to invest, which in turn will increase future free cash flows by 12%. LEE's cost of capital is 10%. An equity analyst argues that LEE's stock price would be higher if the firm used the $200 million to repurchase shares instead of funding the invest. Please calculate its stock price if it invests and if it repurchases