Brandily of a , retains and reinvests its comingsIn other words, Brandtly does not any dividends, and it has no plans to pay dividends in the near future. A mayor pension fund interested in purchasing Brandtly's stockThe has estimated Brandtly's free cash flows for the next 4 years as follows: , 57 millionand 15 After the yearprojected to grow constant 7%WACC 9%, the market value of its debt and preferred stock milon, the has million in non-operating assets, and has 8 shares of common stock outstanding is the present value of the free cash flows projected during the next 4 yearsDo not round intermediate calculations, Round your the out your answers completely. For example, 13 million should be entered as 13, 000, 000 bis the firm's horizon, or continuing, value? Round your answer to the nearest your answers completelyFor example, 13 million should be entered as 13,000,000 What the market of the company's operations? Da round Intermediate calculationsRound your answer to the nearest out your answers completely. For example, 13 should be entered as . What todaynot found your answer to the nearest datarout your answers completelyFor example13 should be entered as 13,000,000, d. What an estimate of per share? not round intermediate calculationsRound your answer to the nearest cent

Brandtly Industries Invests a large sum of money in R&D; as a result, it retains and reinvests all of its earnings. In other words, Brandtly does not pay any dividends, and it has no plans to pay dividends in the near future. A major pension fund is interested in purchasing Brandtly's stock. The pension fund manager has estimated Brandtly's free cash flows for the next 4 years as follows: $2 million $7 millon, $12 milion, and $15 million. After the fourth year, free cash flow is projected to grow at a constant 7%. Brandtly's WACC is 9%, the market value of its debt and preferred stock totals $48 million, the firm has $13 million in non-operating assets, and it has 8 million shares of common stock outstanding. a. What is the present value of the free cash flows projected during the next 4 years? Do not round Intermediate calculations. Round your answer to the nearest dollar. Write out your answers completely. For example, 13 million should be entered as 13,000,000 $ b. What is the firm's horizon, or continuing, value? Round your answer to the nearest dollar. Write out your answers completely. For example, 13 million should be entered as 13,000,000. . What is the market value of the company's operations? Do not round intermediate calculations. Round your answer to the nearest dollar. Write out your answers completely. For example, 13 million should be entered as 13,000,000 $ What is the firm's total market value today? Do not round intermediate calculations. Round your answer to the nearest dollar. Write out your answers completely. For example, 13 million should be entered as 13,000,000 $ d. What is an estimate of Brandtly's price per share? Do not round Intermediate calculations. Round your answer to the nearest cent. $