Following are forecasted sales, NOPAT, and NOA for AT&T for $2019$ through $2022$

Note: Complete the entire question in Excel and format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places.

a$.$ Forecast the terminal period values assuming the following terminal period growth rate.

Assumption

Terminal period growth rate $2\%$

b$.$ Estimate the value of a share of AT&T common stock using the discounted cash flow $($DCF$)$ model as of December $31,2018$ using the following assumptions and the information above.

$\backslash$table$[[$Assumptions$,,],[$Discount rate $($WACC$),5\mathrm{.}70\%,],[$Common shares outstanding,$7,281\mathrm{.}6,$million$],[$Net nonoperating obligations $($NNO$),$$$177,838,$million$],[$Noncontrolling interest,$$12,478,$million$]]$

$\backslash$table$[[($$ millions$),\backslash$table$[[$Reported$],[2018]],$Forec,$\backslash$table$[[019],[019$ torizon$]],,2020,,2021,2022,\backslash$table$[[$Terminal$],[$Period$]]],[$Increase in NOA,,$$,0x,$$$,0x,$$$,05,0,0$