Answer questions 1-4 from the following financial data as of 12/31/20 and for the year then ended or as shown on ACME Corporation, a U.S. based fastener distributor. (All amounts in millions except as indicated) Total Assets $5,500 Long Term Debt $2,000 Stockholders Equity $3,500 Revenues $7,000 Net Income $400 Free Cash Flow: 2021 $360 2022 $470 2023 $550 2024 $650 2025 $710 2026 $850 2027 $950 2028 $990 S&P 500 Return for 2021 15% ACME Beta in 2021 1.33 10 Year T-Note Return for 2021 4.5% Common Shares Outstanding 40 Common Stock Price Per Share 12/31/20 $50 Dividends Paid in 12/31/20 and future years $200 Weighted Average Cost of Capital 15%

Using a four-year free cash flow proforma, what is the Intrinsic Value per share of ACME? A. $94 B. $277 C. $110 D. $129