Dozier Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFs) during the next 5 years, after which FCF is expected to grow at a constant 2.0%% rate. Dozier s weighted average cost of capital is WACC = 18.0%.

Suppose Dozier has $28,226,880 in marketable securities, $169,361,280 in debt, and 33,872,256 shares of stock. What is the intrinsic price per share?

Year

1

2

3

4

5

CFs

($11,290,752)

$33,872,256

$45,163,008

$101,616,768

$67,744,512