$($a$)$ To estimate free cash flows $($FCF$)$ for years $1$ through $4,$ fill in the following table.

$($b$)$ After year $4($year $2027),$ both sales revenue and free cash flows are expected to grow at a long$-$run rate

of $3\mathrm{.}0\%$ every year forever. The firm$-$specific discount rate is $8\%.$ What is the enterprise value today?

$($c$)$ In current balance sheet, the firm has $$3,805$ million in cash, $$26,834$ million in debt, and $461$ million

shares outstanding. What is the share price?

$($d$)$ Based on your estimate in $($c$),$ do you conclude that the current market price of $$169\mathrm{.}12$ is fair? Or$,$ is

the stock over$/$undervalued$?$

$($e$)$ Suppose that the long$-$run growth rate in part $($b$)$ is $4\mathrm{.}5\%$ rather than $3\mathrm{.}0\%$ per year. With this growth

rate, how much would a share be worth? $($Other than the growth rate, there is no change in the discount

rate and balance$-$sheet items$).$