Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year 1 2 3 4 5 FCF ($ million) 53.8 69.1 77.5 76.2 81.6 Thereafter, the free cash flows are expected to grow at the industry average of 3.6 %3.6% per year. Using the discounted free cash flow model and a weighted average cost of capital of 13.1 %13.1%:

a.Estimate the enterprise value of Heavy Metal.

b.If Heavy Metal has no excess cash, debt of $ 312$312 million, and 3838 million shares outstanding, estimate its share price.