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) 53.0 68.0 78.0 75.0 82.0 ?

After? that, the free cash flows are expected to grow at the industry average of 4.0% per year. Using the discounted free cash flow model and a weighted average cost of capital of 14.0%?

a. Estimate the enterprise value of Heavy Metal.

b. If Heavy Metal has no excess? cash, debt of $300 ?million, and 40 million shares? outstanding, estimate its share price.