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: $$4$ million, $$7$ million, $$8$ million, and $$13$ million. After the fourth year,

free cash flow is projected to grow at a constant $3\%.$ Brandtly's WACC is $11\%,$ the market value of its debt and preferred stock totals $$44$ million, the firm

has $$14$ million in nonoperating assets, and it has $24$ 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 $13,000,000.$

$

c$.$ 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.