business at the end of $2022.$ Estimate the value of IDX per share using a discounted FCF approach and the following data:

Debt: $$39$ million

Excess cash: $$102$ million

Shares outstanding: $50$ million

Expected FCF at end of $2023$: $$40$ million

Expected FCF at end of $2024$: $$59$ million

Future FCF growth rate beyond $2024$: $4\%$

Weighted$-$average cost of capital: $9\mathrm{.}4\%$