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3. Zuul Corporation is a fast-growing supplier of ceramic gargoyles. Analysts project the following free cash flows (FCFS), in millions of dollars, during the next

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3. Zuul Corporation is a fast-growing supplier of ceramic gargoyles. Analysts project the following free cash flows (FCFS), in millions of dollars, during the next 4 years, after which FCFs are expected to grow at a constant, 2% rate. Zuul's WACC is 12%. (14) Year 1 Year 2 Year 3 Year 4 -50 20 60 100 a) What is the current value of operations for Zuul? b) Suppose Zuul has $20 million in cash and marketable securities, $55 million in debt, and 30 million shares of stock. What is the intrinsic price per share of Zuul stock today

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