In Tab 9-9, please follow the steps to complete the following scenario. Analysts project that Front Range Mountaineering Supplies will generate pre-tax operating profits (EBIT) of $160,000 in the coming year. The firm will have $40,000 in depreciation expense and a tax rate of 25%. Management has told analysts that it expects to make net new investments of $30,000 in operating assets over the next year. It has $25,000 in marketable securities on the books, and the market value of its debt is $450,000. The analysts believe that the WACC is 12% and that free cash flow can grow at about 7% per year. If the company has 350,000 common shares outstanding, what is the intrinsic value per share, using the free cash flow model? Front Range Mountaineering Supplies Free Cash Flow Valuation Model Operating Cash Flow Free Cash Flow Value of Firm Value of Equity Per Share Value