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$$s stock.The pension fund manager has estimated Brandtly's free cash flows for the next $4$ years as follows: $$3$ million, $$6$ million, $$8$ million, and $$16$ million

a$)-$What is the present value of the free cash flows projected during the next $4$ years?

b$)-$What is the firm's horizon, or continuing, value?

c$)-$What is the market value of the company's operations? What is the firm's total market value today?

d$)-$What is an estimate of Brandtly's price per share?