a. A company is projected to generate free cash flows of $163 million next year and $201 million at the end of year 2, after which it is projected grow at a steady rate in perpetuity. The company's cost of capital is 10.6%. It has $157 million worth of debt and $57 million of cash. There are 26 million shares outstanding. If the terminal EV/FCFF exit multiple at the end of year 2 is 5.7, what's your estimate of the company's share value? Round to one decimal place.

b. You are valuing Soda City Inc. It has $121 million of debt, $81 million of cash, and 171 million shares outstanding. You estimate its cost of capital is 10.9%. You forecast that it will generate revenues of $717 million and $783 million over the next two years, after which it will grow at a stable rate in perpetuity. Projected operating profit margin is 29%, tax rate is 26%, reinvestment rate is 37%, and terminal EV/FCFF exit multiple at the end of year 2 is 12. What is your estimate of its share value? Round to one decimal place.