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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: FCF ($ million) Year 1- $51.9 2-$66.4 3-$76.4

Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: FCF ($ million) Year 1- $51.9 2-$66.4 3-$76.4 4-$76.2 5-$83.7 . Thereafter, the free cash flows are expected to grow at the industry average of 3.7% per year. Using the discounted free cash flow model and a weighted average cost of capital of 13.6%: a.Estimate the enterprise value of Heavy Metal. b.If Heavy Metal has no excess cash, debt of $283 million, and 45 million shares outstanding, estimate its share price.

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