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MUST BE ANSWERED USING EXCEL!!! I will happily up vote if the answer is detailed and ONLY IF IT IS DONE USING EXCEL!!!! Please explain
MUST BE ANSWERED USING EXCEL!!! I will happily up vote if the answer is detailed and ONLY IF IT IS DONE USING EXCEL!!!! Please explain if possible.
9. Phoenix Corp. faltered in the recent recession but is recovering. Free cash flow has grown rapidly. Forecasts made in 2019 are as follows: (5 millions) 2020 2021 2022 2023 2024 Net income 1.0 2.5 4.2 4.70 5.0 Investment 1.0 1.5 1.7 1.9 1.9 Free cash flow 0 1.0 2.5 2.8 3.1 Phoenix's recovery will be complete by 2024, and there will be no further growth in net income or free cash flow. a) Calculate the PV of free cash flow, assuming a cost of equity of 10%. b) Assume that Phoenix has 12 million shares outstanding. What is the price per shareStep by Step Solution
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