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3. ABC Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFS) in the first year is $20 million

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3. ABC Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFS) in the first year is $20 million and FCF is expected to grow at a constant 7% rate after year 1. ABC's WACC is 12%. Suppose ABC has $12 million in marketable securities, $100 million in debt, 50 mission in preferred stocks, and 10 million shares of stock. What is the stock intrinsic price per share? (15 pts)

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