IDX Technologies is a privately held developer of advanced security systems based in Chicago. As part of your business development strategy, in late 2013 you initiate discussions with IDX's founder about the possibility of acquiring the business at the end of 2013. Estimate the value of IDX per share using a discounted FCF approach and the following data:

Debt:

$22

million

Excess cash:

$115

million

Shares outstanding: 50 million

Expected FCF in 2014:

$47

million

Expected FCF in 2015:

$59

million

Future FCF growth rate beyond 2015: 5%

Weighted-average cost of capital: 9.4%

Question content area bottom

Part 1

The enterprise value in 2013 is

$enter your response here

million. (Round to the nearest integer.)

Part 2

The equity value is

$enter your response here

million. (Round to the nearest integer.)

Part 3

The value of IDX per share is

$enter your response here.

(Round to the nearest cent.)