A company announced that its annual free cash flow will be $50 mil next year. Then this cash flow will grow at 5% (81) each year for the next 3 years. After those three years, at year 4, the growth rate will go down to 2% (92) each year in perpetuity. What is the present value of all future free cash flows at time 4, given a 10% rate of return?

A company announced that its annual free cash flow will be $50 mil next year. Then this cash flow will grow at 5% (81) each year for the next 3 years. After those three years, at year 4, the growth rate will go down to 2% (82) each year in perpetuity. This company has 200 mil shares outstanding. How much would you be willing to pay for this company's stock today on a per share basis, given a 10% rate of return?