Liquidators Inc. currently has a book value of equity per share equal to $10. The company is expected to have ROE of 44% and reinvest 100% of its earnings every year for the next 2 years. According to analysts' forecasts, Liquidators Inc. will be liquidated at the end of year 2 with a liquidation value equal to the book value of equity per share at the end of year 2. The required rate of return on the company's equity is equal to 20%. What is Liquidators Inc.'s intrinsic value per share equal to? $12 $14.40 $10 $6.94 Free Cash Inc. is expected to have free cash flow to equity next year (FCFE1) equal to $9 million as well as free cash flow to firm next year (FCFF1) equal to $12 million. The growth rate of both FCFE and FCFF is expected to be equal to 3% in perpetuity. The cost of equity for Free Cash Inc. is 18% while their after-tax cost of debt is equal to 8%. The debt-to-equity ratio (D/E) of Free Cash Inc. is equal to 1. What is the intrinsic value of Free Cash Inc.'s debt: $60 million $37.50 million $16.67 million $100 million