Heavy Metal Corporation is expected to generate the following free cash flows over the next five years:

Thereafter, the free cash flows are expected to grow at the industry average of 3.8% per year. Using the discounted free cash flow model and a weighted average cost of capital of 13.5%:

a. Estimate the enterprise value of Heavy Metal. The enterprise value will be $____million.(Round to two decimal places.)

b. If Heavy Metal has no excess cash, debt of $280 million, and 44 million shares outstanding, estimate its share price.

Data Table (Click on the following icon in order to copy its contents into a spreadsheet.) Year 1 2 3 4 5 FCF ($ million) 52.4 67.5 77.3 75.7 81.5