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Bird Song Industries makes a bird seed that sets native song birds singing all day long. Its product has been discovered by the back-to-nature crowd

Bird Song Industries makes a bird seed that sets native song birds singing all day long. Its product has been discovered by the back-to-nature crowd around the world. As a result, Bird Song's executives expect free cash flow (FCF) to grow rapidly over the next 3 years. The forecast FCFs are 20 in 2018, 40 in 2019, with a jump to 90 in 2020. By 2020 Bird Song expects growth to slow to 1.5% per year in perpetuity. Bird Song's weighted average cost-of-capital (WACC) is 10%. What is Bird Songs fundamental value?

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