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4. An analyst has used the pereent of sales method to forecast the items in the table below for 2021-2023 for New Energy, Inc, which

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4. An analyst has used the pereent 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, Ine's value

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