(Free Cash Flow Valuation). Assume that free cash flow to the firm is forecast to be $70,000 in 2011 and that it is expected to grow by 5% per year thereafter. The estimated intrinsic value per share is (12/31/07): a. - $0.65 b. $0.00 c. $0.816 d. $8.53 e. $9.35 (Residual Income). Compute the book value of equity at the end of 2010. a. $1, 320,000 b. $1, 500,000 c. $1, 680,000 d. $1, 870,000 e. $2, 070,000 (Residual Income Valuation). Compute the normal income for 2009. a. $210,000 b. $228,000 c. $235, 200 d. $245, 100 e. $256, 500 (Residual Income Valuation). Compute the intrinsic value of Hi-Flyer's shares at the end of 2007. Assume residual income will be ($25,000) in 2011 (perpetuity start) with a growth rate in the perpetuity of -40% per year. a. $0.77 b. $12.69 c. $13.95 d. $14.23 e. $15.19