Gleason Inc. is undergoing a restructuring, and its free cash flows are expected to be unstable during the next few years. However, FCF is expected to be $350,000 in Year 3, i.e., FCF at t =3 equals $350,000, and the FCF growth rate is expected to be constant at 4% beyond that point. If the weighted average cost of capital is 11%, what is the horizon value (in millions) at t =3? 1) $7,550,400 2) $6,864,000 3) $5,200,000 O4) 4) $9,060,480 5) $6,240,000 A company's weighted average cost of capital is 9.5% per year and the market value of its debt is $430 million. The company's free cash flow last year was $280 million and it is expected to grow 30% per year for the next three years. Thereafter, the free cash flow is expected to grow forever at a rate of 3% per year. If the company has seventy five million shares of common stock outstanding, what is the value per share? 1) $188.70 2) $109.20 3) $131.04 4) $157.25 5) $84.00 Zen Corporation forecasts that its free cash flow in the coming year, i.e., at t = 1, will be - $130 million, its FCF at t=2 will be -$130 million, and its FCF at t=3 will be $500 million. After Year 3, FCFs are expected to grow at a constant rate of 5% forever. If the weighted average cost of capital is 14%, what is the firm's value of operations, in millions? 1) $9,137 2) $13,705 3) $3,124 4) $4,061 5) $6,091