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)	52.352.3	69.769.7	78.678.6	73.673.6	81.981.9

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

14.7 %14.7%:

a.Estimate the enterprise value of Heavy Metal.

b.If Heavy Metal has no excess cash, debt of

$ 301$301

million, and

4545

million shares outstanding, estimate its share price.