FBM Inc. has projected sales of $$85$ million next year. Costs are expected to be $$52$ million and net investment is expected to be $$9$ million. Each of these values is expected to grow at $14$ percent the following year, with the growth rate declining by $2$ percent per year until the growth rate reaches $4$ percent, where it is expected to remain indefinitely. There are $6\mathrm{.}5$ million shares of stock outstanding and investors require a return of $12\mathrm{.}5$ percent on the company$$ s stock. The corporate tax rate is $21$ percent.

a$.$ What is your estimate of the current stock price?

b$.$ Suppose instead that you estimate the terminal value of the company using a PE multiple. The industry PE multiple is $12.$ What is your new estimate of the company$$s stock price?

Please give me particular formular and explaination.