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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year FCF (5 million) 52. 9 68.3 78.8

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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: Year FCF (5 million) 52. 9 68.3 78.8 76.7 82.8 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 14.3% a. Estimate the enterprise value of Heavy Metal b. If Heavy Metal has no excess cash, debt of $318 million, and 38 million shares outstanding, estimate its share price a. Estimate the enterprise value of Heavy Metal The enterprise value will be million (Round to two decimal places)

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