Dantzler 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 $8\%$ rate. Dantzler's WACC is $10\%.$

Year $0123$

$........................................................$

FCF $($$ millions$).......................................................$

$-$ $$19$ $$16$ $$56$

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below.

Corporate valuation

Dollars$/$shares in millions

FCF$1-$$$19\mathrm{.}00$

FCF$2$ $$16\mathrm{.}00$

FCF$3$ $$56\mathrm{.}00$

Constant growth rate, gn $8\mathrm{.}00\%$

WACC $10\mathrm{.}00\%$

Market value of debt $$41\mathrm{.}00$

Common shares outstanding $20$

$01234$

FCFs $-$$$19\mathrm{.}00$ $$16\mathrm{.}00$ $$56\mathrm{.}00$

Horizon value

Total FCFs

PV of FCFs to investors

Firm value today

Market value of equity, MVEquity

Price per share, P$0$

Formulas

$01234$

FCFs $-$$$19\mathrm{.}00$ $$16\mathrm{.}00$ $$56\mathrm{.}00$ #N$/$A

Horizon value #N$/$A

Total FCFs #N$/$A #N$/$A #N$/$A

PV of FCFs to investors #N$/$A #N$/$A #N$/$A

Firm value today #N$/$A

Market value of equity, MVEquity #N$/$A

Price per share, P$0$ #N$/$A

$1.$ What is Dantzler's horizon, or continuing, value? $($Hint: Find the value of all free cash flows beyond Year $3$ discounted back to Year $3.)$ Round your answer to two decimal places. Enter your answer in millions. For example, an answer of $$13,550,000$ should be entered as $13\mathrm{.}55.$

$ $\_\_\_\_\_\_$ million

$2.$ What is the firm's value today? Round your answer to two decimal places. Enter your answer in millions. For example, an answer of $$13,550,000$ should be entered as $13\mathrm{.}55.$ Do not round your intermediate calculations.

$ $\_\_\_\_\_\_$ million

$3.$ Suppose Dantzler has $$41$ million of debt and $20$ million shares of stock outstanding. What is your estimate of the current price per share? Round your answer to two decimal places. Write out your answer completely. For example, $0\mathrm{.}00025$ million should be entered as $250.$

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