Firm M has 1 million shares, 7m in longterm debt with 6% interest, 3m in shortterm debt with a 3% interest, 4m in accounts payable, 4m in cash, and 2m in cash equivalents. Its WACC is 9.65% and its free cash flow forecast is as follows (in thousands of USD). Estimate its enterprise value and value per share assuming a 2% perpetual growth rate?

Cash flow:

Year: 1 2 3 4 5 6 7 8 9

FCF: 196 - (-676) - (-1798) - 414 - 945 - 1021 - 1102 - 1190 - 1286