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A stock has no dividends. Last period s FCFF is $ 4 . 8 9 and it has an estimated annual free cash flow growth

A stock has no dividends. Last periods FCFF is $4.89 and it has an estimated annual free cash flow growth rate of 7.8%. The company should maintain this growth rate for 3 more years before it decays to the estimated long-term growth rate of 2.46%. The WACC for this stock is 6.4% and its current ROE is 24.3%. You also found out that the firm has debt per share of $38.74. What is the estimated intrinsic value using the multistage FCFF method? State your answer as a dollar amount with two decimal places and use the adjusted method as shown in the textbook.

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