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) 53.6 68.2 79.4 76.6 80.4

After that, the free cash flows are expected to grow at the industry average of 4.4 % 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 $ 299 million, and 40 million shares outstanding, estimate its share price.