As a mid level executive in the finance department the CFO has asked for your help in explaining the theoretical firm value to other members of the executive team with less formal finance training. She would like you to explain the difference between using FCFF and FCFE to create an estimate of the theoretical value of a share. Briefly explain what each cash flow is intended to measure, how they are different and how they are the same. Finally make sure to explain if you would expect the value of a share of the firms stock to be the same using FCFF and FCFE (hint think about the PV of debt and the differences between the two cash flows and try to relate this to PV concepts from Module 2).