4. An analyst has used the percent of sales method to forecast the items in the table below for 2021-2023 for New Energy, Inc., which is all equity financed. The beta for the company's stock is 1.2, and the company's tax rate is 38%. Assume a risk free rate of 4% and an equity market risk premium of 5%. ( 15 points) 2) What is the free cash flow for 2021 ? 3) Using your forecast of free cash flow for 2021 , and assuming you have also forecast that the free cash flow for 2022 is $1,484 million, and that the sum of the free cash flow for 2023 and the terminal value in 2023 is $28.833 million, what is New Energy, Inc.'s value