Covan, Inc. is expected to have the following free cash flow: Year FCF 10 12 13 14 Grow by 5% per year a Co an has 6 million shares outstanding 4 million in excess cash, and it has no debt. I its cost of capital is 11%, what should be its stock price? b. Covan reinvests all its FCF and has no plans to add debt or change its cash holdings (it does not invest its cash holdings). If you plan to sell Covan at the begin of year 2, what is its expected price? c. Assume you bought Covan stock at the beginning of year 1. What is your expected return from holding Covan stock until year 2 a. Co an has 6 milion shares outstanding $4 m ason in excess cash, and it has no debt if its cost of capital is 1 1%, what should be its stock price? The stock price should be (Round to the nearest cent.) gs (it does not invest its cash holdings) If you plan to sell Covan at the beginning b. Covan reinvests all its FCF and has no plans to add debt or change its 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.) c. Assume you bought Covan stock at the beginning of year 1, What is your