Chapter 9 Stocks and Their Valuation 337 9-15 CORPORATE VALUATION Dantzler Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFS) during the next 3 years, after which FCF is expected to grow at a constant 5% rate. Dantzler's WACC is 11%. Year 0 1 + -$11 2 + $17 $45 FCF ($ millions) a. What is Dantzler's horizon, or continuing, value? (Hint: Find the value of all free cash flows beyond Year 3 discounted back to Year 3.) b. What is the firm's value today? c. Suppose Dantzler has $112.60 million of debt and 25 million shares of stock outstanding. What is your estimate of the current price per share