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Heavy Metal Corporation is expected to generate the following free cash flows over the next five years: YEAR 1 2 3 4 5 FCF ($

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) 54.2 69.8 79.1 76.1 82.4

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 14.4% : a. Estimate the enterprise value of Heavy Metal. b. If Heavy Metal has no excess cash, debt of$302 million, and45 million shares outstanding,estimate its share price.

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