Bay Street Tech has 60 million outstanding shares, $120 million in debt, $40 million in cash, and the following projected free cash flow for the next four years: Earnings and FCF Forecast ($ million)	Year
0	1	2	3	4
Sales	433	468	516	547	574.3
Growth versus Prior Year	8.1%	10.3%	6.0%	5.0%
Cost of Goods Sold	-313.6	-345.7	-366.5	-384.8
Gross Profit	154.4	170.3	180.5	189.5
Selling, General, and Administrative	-93.6	-103.2	-109.4	-114.86
Depreciation	-7	-7.5	-9	-9.5
EBIT	53.8	59.6	62.1	65.2
Income Tax at 40%	21.5	23.8	24.8	26.1
Depreciation	7	7.5	9	9.5
Capital Expenditures	-7.7	-10	-9.9	-10.4
Increase in NWC	-6.3	-8.64	-5.58	-4.914
Free Cash Flow	25.3	24.6	30.8	33.3