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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year 2 3 FCF ($ million) 67.3 76.4

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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year 2 3 FCF ($ million) 67.3 76.4 754 83.6 51.8 67.3 Thereafter, the free cash flows are expected to grow at the industry average of 4.1% 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 36 million shares outstanding, estimate its share price

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