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(Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 2 3 4 5 FCF ($ million) 54.1 68.5

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(Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 2 3 4 5 FCF ($ million) 54.1 68.5 77.1 75.9 83.5 Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Thereafter, the free cash flows are expected to grow at the industry average of 3.6% per year. Using the discounted free cash flow model and a weighted average cost of capital of 14.9%: a. Estimate the enterprise value of Heavy Metal. b. If Heavy Metal has no excess cash, debt of $312 million, and 37 million shares outstanding, estimate its share price. (Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 2 3 4 5 FCF ($ million) 54.1 68.5 77.1 75.9 83.5 Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Thereafter, the free cash flows are expected to grow at the industry average of 3.6% per year. Using the discounted free cash flow model and a weighted average cost of capital of 14.9%: a. Estimate the enterprise value of Heavy Metal. b. If Heavy Metal has no excess cash, debt of $312 million, and 37 million shares outstanding, estimate its share price

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