From year 6, the company generates free cashflow at a constant growth rate, 5%. Suppose the cost of equity is 10%, the cost of debt is 5%, and the tax rate is 30%. The debt to equity ratio is 1. The total debt is 10 million dollars. The total number of shares outstanding is 500 million shares. The company has $10 million cash in its bank account. What is the stock price per share based on given information, using enterprise value model? Note that enterprise value model considers the different discount if the cashflow is received in the middle point of a year.

3. Enterprise Value FCF Model	(in million)
Year 0	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6
	1	2	3	4	5	6
	5	6	7	8	10