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)	53.553.5	66.566.5	78.478.4	76.876.8	80.680.6

Thereafter, the free cash flows are expected to grow at the industry average of

4.2 %4.2%

per year. Using the discounted free cash flow model and a weighted average cost of capital of

13.2 %13.2%:

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.