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Assume you have a company that has the following financials for fiscal year 2020. $300 million in cash $600 million in book value of debt

Assume you have a company that has the following financials for fiscal year 2020.

$300 million in cash

$600 million in book value of debt

$500 million in market value of debt

$1,000 million in book value of equity

The company will generate a net income of $350 million and a free cash flow of $200 million in 2021. The growth rates of the free cash flows will be 4% in 2022, 2% in 2023, and -2% (yes negative growth rate) per year after 2023. If the cost of equity is 12%m the weighted average cost of capital is 8%, and the firm has 100 million shares outstanding in 2020, then the firm's equity value per share as of 2020 is $______________?

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