For the following please show work to get the answer.

16. FINA Inc has had annual earnings that average $12 million per year for the past 5 years.Assuming these earnings will continue in the future and using a discount rate of 3%, calculate a discounted cash Flow (DCF) value for the company, using both the "In perpetuity" method and the discounted value for 25 years. Why are these two values different?

17. FINA Inc pays an annual dividend of $2.60 per share, but you expect that rate to rise 1% a year in the future, based on promises offered in the latest annual report.Using a discount rate of 4%, estimate the value of a share of this stock.

18. FINA Inc has a share price of $32 per share on the stock market. It has a book value of $87 million. There are 10 million shares outstanding. What is FINA's market capitalization value? What does the difference between that value and the book value suggest to us?