Covan, Inc. is expected to have the following free cash flow: . Covan has 8 million shares outstanding. $3 million in excess cash, and it has no debt. If its cost of capital is 11%, what should be its stock price? . Covan adds its FCF to cash, and has no plans to add debt. If you plan to sell Covan at the beginning of year 2 , what is its expected price? a. Covan has 8 million shares outstanding. $3 million in excess cash, and it has no debt. If its cost of capital is 11%, what should be its stock price? The stock price should be $ (Round to the nearest cent.) b. Covan adds its FCF to cash, and has no plans to add debt. If you plan to sell Covan at the beginning of year 2 , what is its expected price? If you plan to sell Covan at the beginning of year 2 , its price should be $ (Round to the nearest cent.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.)