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)	51.351.3	69.269.2	76.376.3	73.173.1	80.780.7

Thereafter, the free cash flows are expected to grow at the industry average of 4.3% per year. Using the discounted free cash flow model and a weighted average cost of capital of 14.8%:

a.Estimate the enterprise value of Heavy Metal.

b.If Heavy Metal has no excess cash, debt of $312 million, and 42 million shares outstanding, estimate its share price.