Charles Jones seeks to evaluate the Reliant Home Furninshing company using a 3-tier growth model. He obtained the following information: - Current Free Cash Flow (FCFF) = $ 755 million; - Shares in circulation = 311 million; - Equity Beta = 1.02; risk-free rate: 4.9%; risk premium (equity) = 5.11%; - Cost of debt 7.1%; - Marginal tax rate = 34%; - Capital structure = 23% debt, 77% (equity); - Long-term debt = 1.4 billion; - FCFF growth rate = 8.1% per year for level 1, year 1-4; 7.3% for year 5, 5.9% for year 6, 4.5 for year 7 3.01% for year 8 and after. From the information Jones has gathered, estimate: 1. The weighted average cost of capital (WACC), The total value of the firm, The total value of equity, Value per share and Give the definition of FCFF by explaining each of the components making it possible to obtain this value.