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) 52.9 69.2 77.2 73.8 81.5 Thereafter, 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 13.9%:

a.Estimate the enterprise value of Heavy Metal.

b.If Heavy Metal has no excess cash, debt of $ 284 million, and 35 million shares outstanding, estimate its share price.