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Assume that today is December 31,2021 , and that the following information applies to Abner Alilines: - After-tax operating income [EBIT 11 - T)] for

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Assume that today is December 31,2021 , and that the following information applies to Abner Alilines: - After-tax operating income [EBIT 11 - T)] for 2.022 is expected to be $600 million. - The depreciation expense for 2022 is expected to be $110 million. - The capltal expenditures for 2022 are expected to be $500 milion. + No change is expected in net eperating working capital. - The free cash flow is expected to grow at a constant rate of 7% per year. + The required return on equity is 14%. - The WACC is 12%. - The firm has $196 milion of nonoperating assets. - The manket value of the company's debt is $3.063 bilion. - 320 million shares of stock are outstanding. Using the corporate valuation model approach, what should be the company's stock price todayn Do not round intermediate calculations. Hound your answer to the nearest cent. 5

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