d$.$ Calculate the current value of operations. First, calculate the terminal value at the end of the forecast period,

which is equal to the value of operations at the end of the forecast period. Assume that the annual growth rate

beyond the terminal value is equal to the growth rate between projected FCF from $2026$ and $2027.$ How does the

current value of operations compare with the current amount of total net operating capital?

e$.$ Calculate the price per share of common equity as of $\frac{12}{31}\frac{?}{2023}$

Millions except price per share

Value of operations

Value of short$-$term investments

Total value of company

Total value of all debt

Value of preferred stock

Value of common equity

Divided by number of shares

Price per share