Heavy Metal Corporation is expected to generate the following free cash flows over the next five$$ years: LOADING.... $$Thereafter$,$ the free cash flows are expected to grow at the industry average of $4\mathrm{.}1\%$ per year. Using the discounted free cash flow model and a weighted average cost of capital of $14\mathrm{.}1\%$:

a$.$ Estimate the enterprise value of Heavy Metal.

b$.$ If Heavy Metal has no excess$$ cash, debt of $ $280$million$,$ a

Year

$1$

$2$

$3$

$4$

$5$

FCF$($$ million$)$

$52\mathrm{.}3$

$66\mathrm{.}9$

$79\mathrm{.}4$

$76\mathrm{.}3$

$80\mathrm{.}9$