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 5% rate. Dantzlers WACC is 11%.

Years: 0 1 2 3

FCF Year (1) -11 million

FCF Year (2) 17 million

FCF Year (3) 45 million

a)What is Dantzlers horizon, or continuing, value?

b)What is the firms value today?

c)Suppose Dantzler has $112.60 million of debt and 25 million shares of stock outstanding. What is your estimate of the current price per share?