1. At the beginning of its fiscal year 2020, an analyst made the following forecast for ABC, Inc. (in millions of dollars):

	2020	2021	2022	2023
Cash flow from operation	$1,225	$4,320	$2,985	$3,830
Cash investment	695	930	365	990

ABC did not have any short-term and long-term debt at the end of 2020. Assume that free cash flow will grow at 3 percent per year in 2024 and 2025, after that this will grow at 2 percent per year. ABC had 250 million shares outstanding at the end of 2020, trading at $130.65 per share. Using a required return of 10 percent, calculate the following for GM at the beginning of 2020:

1. The enterprise value.
2. Equity value.
3. Equity value per share.
4. Based on your estimate, should investors buy the share of this company? Justify your choice.

Please show Formula, Explanation and calculation.