Given the following information about a companys financial results, value the Companys stock based on a model of FCF growth, using the following facts:

a. The company has a cost of debt of 5%

b. The company has outstanding shares of stock of 44,080,000. Share price is $37.

c. Beta is 0.437, risk free rate is 3%, and Rm is 12%.

d. Company has debt of $750 million as of end of year 5 and cash of $50 million.

PLEASE SOLVE IN EXCEL AND SHOW FORMULA TEXT

Yr 5 Yr 4 Yr 3 Yr 2 Yr 1 Net income $105,300,000 $128,000,000 $122,100,000 $35,800,000 $116,300,000 Depreciation $161,700,000 $155,000,000 $148,800,000 $145,100,000 $141,600,000 Changes in net working capita (12,600,000) 268,300,000 491,300,000 233,000,000 213,400,000 Capital expenditures (181,300,000) (192,500,000) (185,700,000) (158,400,000) (154,000,000) Net interest paid before taxes (41,100,000) (34,600,000) (46,900,000) (50,600,000) (45,500,000) Tax rate 37.84% 31.03% 32.62% 16.94% 34.56%