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. An analyst estimating the value of Boldin Inc. has made the following assessments: The company s free cash flow this year is $ 2

. An analyst estimating the value of Boldin Inc. has made the following assessments:
The companys free cash flow this year is $2,500,000. For convenience, she assumes that
all cash is generated at the end of the year, so FCF1= $2,500,000.
The firms free cash flow will grow at a constant growth rate of 5% per year.
Boldins WACC is 9%.
Boldin has $10,000,000 in total debt.
The firm has no preferred stock.
The firm has excess cash of $3,000,000.
Boldin has 2,000,000 shares of common stock outstanding.
What is the per-share estimate of the stocks intrinsic value today at t =0?

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