Corporate Valuation Lincoln Corp has never paid a dividend. Free cash flow is projected to follow the timeline below dAer the third year, FCF is expected to grow at 7% annually The WACC is 12% SM Year 30 70 90 0 1. What is Lincoln's Terminal Value? 32. What is the current value of operations? 15 16 17 3. Suppose Lincoln has $10M in marketable securities, $100M in liabilities, and 10M shares of stock What is Lincoln's share price? 18 19 20 22 4. Assume Lincoln has European investors. 23 The original spot rate was $1.1 per 1 Euro. If the spot rate were to change to $o.9 per 1 Euro, what would be the new stock price from the European perspective? 24 Would they be more or less likely to buy Lincoln stock with the change in exchange rate (hint: there are two arguments to be made)? otal Management Translation Effect tructions Corporate Valuation