Free Cash Flow Valuation Dozier Corporation is a fast-growing supplier of office products. Analysts project the following free cash flows (FCFs) during the next 3 years, after which FCF is expected to grow at a constant 5% rate. Dozier's weighted average cost of capital is WACC = 16%.

Year 1 2 3 Free cash flow ($ millions)

-$20 $30 $40

What is Dozier's horizon value? (Hint: Find the value of all free cash flows beyond Year 3 discounted back to Year 3.) Round your answer to two decimal places. $ million

What is the current value of operations for Dozier? Do not round intermediate calculations. Round your answer to two decimal places. $ million Suppose Dozier has $10 million in marketable securities, $100 million in debt, and 10 million shares of stock.

What is the intrinsic price per share? Do not round intermediate calculations. Round your answer to the nearest cent.