An expert has gathered the following data about a company:

Forecasted EBIT for next year to be $300 million, forecasted depreciation would be $50 million, forecasted capital expenditures to be $100 million. And the forecasted increase in the operating working capital would be $60 million. Tax rate is recorded to be 40%. WACC is 10%, and cost of equity is 13%. The market value of debt and preferred stock are said to be $500 million. And 20 million are the outsstanding shares.

The companys free cash flow is anticipated to grow at a constant rate of 6% a year. Calculate the intrinsic value of stock. (Don't use excel sheet fro answer)