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A companys free cash flow (FCF) is expected to be $10 million next year, $20 million in the second year, and $30 million in the

A companys free cash flow (FCF) is expected to be $10 million next year, $20 million in the second year, and $30 million in the third year. The FCF is expected to increase at the rate of 4% thereafter. The WACC for the company is 10%. The companys balance sheet shows $20 million in short-term investments that are unrelated to operations. The balance sheet also shows $50 million in accounts payable, $90 million in notes payable, $30 million in long-term debt, $40 million in preferred stock, and $100 million in total common equity. If the company has 10 million shares of stock, what is your best estimate for the stock price per share? ($29.88)

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