Abbey Ansah, valued AVG companys stock using the free cash flow to equity (FCFE) model. He believed that the companys FCFE will grow at 20%. The required rate of return on equity is 25%. All figures are million dollars.

Depreciation 30

Earnings per share 10

Dividend per share 2.15

Common shares outstanding (millions) 90.0

Additions to working capital 155

Capital expenditures 45

Using the data above calculate

(a) the amount of FCFE per share for the company.

(b) The value of the company.