Daniel Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFs) during the next 3 years, after which FCF is expected to grow at a constant 9% rate. Daniels weighted average cost of capital WACC is 16%. Free cash flow ($ millions): Year 1 = $25, Year 2 = $45 and Year 3 =$62. Based on this information answer the following: (a) What is Daniels terminal, or horizon, value? (b) What is the current value of operations for Daniel? (c) Suppose Daniel has $12 million in marketable securities, $120 million in debt, and 15 million shares of stock. What is the intrinsic price per share?