FCF, = 1,952.38 FCF grows at a constant rate = 5.0% WACC = 11.0% S.T. Investments = 10,000 L.T. Debt = 15,000 Stocks Outstanding: N = 989 What is the value of operations of Lincoln? 1. What is the value of the firm Lincoln? 2. What is the value of equity of Lincoln? 3. What is the fair price of a Lincoln stock? Formulas: Vop = FCFA + (WACC-gu) VFirm = Vop + S.T. Investments Vequity = VFirm - Debts Po = VEquity - N