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A traded company has the following data and estimates for dividends per share and free cash flows for the next two years: 2021 (Estimate) 2022

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A traded company has the following data and estimates for dividends per share and free cash flows for the next two years: 2021 (Estimate) 2022 (Estimate) FCF $10,000 inillion $12,000 million Dividends per share 2.00 2.20 100,000 Debt (in $ million) Number of shares (In million) 5,000 The required rate of return on equity for this company is 10% and wacc 6%. Assuming a constant growth of 2% after 2022. falculate the intrinsic value of the company (price) using a two-stage dividend discount model. Assume you are at the beginning of 2021

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