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Lockeran Co. has the following projected sales, costs, net investment and free cash flow in millions. The anticipated growth rate in free cash flows after

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Lockeran Co. has the following projected sales, costs, net investment and free cash flow in millions. The anticipated growth rate in free cash flows after year 6 is 3% per year forever. There are 31 million shares outstanding and investors require a return of 7% on the company's stock. Using the constant growth model to find the terminal value, then calculate the price of the company's stock. (Round to 2 decimals) 1 3 4 5 6 2 200 Sales 225 248 187 55 267 85 283 95 61 68 76 18 23 25 28 30 31.5 114 116 132 144 152 156.5 Costs Taxes Net Income (OCF) Net Investment FCF 50 55.5 57.5 63.25 68.25 72.25 64 60.5 74.5 80.75 83.75 84.25

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