Boulevard Inc Balance Sheet Below for year 0

Assets	(Millions of Dollars)	Liabilities	(Millions of Dollars)
Cash	10	Account Payable	15
Short-term investments	20	Notes payable	40
Accounts receivable	80	Accruals	45
Inventories	140	Total current liabilities	100
Total current assets	250	Long-term debt	400
Net plant and equip.	550	Common stock	250
		Retained earnings	50
		Common equity	300
Total assets	800	Total liabilities and equity	800

Cash Flow for the next 8 years are shown below.

The companys WACC is 12%. The FCFs are expected to grow at a constant growth rate of 6% after Year 6. Total common shares outstanding is 15 million shares. (Round your answer to three decimal places)

1. Calculate the Horizon value.

2. Calculate the Value of Operating

3. Calculate the Intrinsic price per share of common equity.

   Please show all work! thank you!

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