JBJ Industries is considering going public but is unsure of a fair offering price for the company.

Before hiring an investment banker to assist in making the public offering, managers at Nabor

have decided to make their own estimate of the firm's common stock value. The firm's CFO

has gathered data for performing the valuation using the free cash flow valuation model. The

firm's weighted average cost of capital is $11\%,$ and it has $$1,500,000$ of debt at market value

and $$400,000$ of preferred stock at its assumed market value. The estimated free cash flows

over the next $5$ years, $2024$ through $2028,$ are given below. Beyond $2028$ to infinity, the firm

expects its free cash flow to grow by $3\%$ annually.

Required: Use free cash flow valuation model to find the value of JBJ Ind.$\text{'}$s common stock.Industries is considering going public but is unsure of a fair offering price for the company.