Dewhurst, Inc., wishes to determine the value of its stock per share at the end of 2021 by using the free cash flow valuation model. The growth rate of FCF, beyond 2017 to infinity is 0.03. The weighted average cost of capital is 0.11. The market value of all debt is $450. The market value of preferred stock is $200. The number of shares of common stock outstanding is 450.

Year FCF

2022 400

2023 500