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Nighthawk Theaters has 1 5 , 0 0 0 shares of stock outstanding and projected annual free cash flows of $ 4 8 , 2

Nighthawk Theaters has 15,000 shares of stock outstanding and projected annual free cash flows of $48,200, $57,900, $71,300, and $72,500 for the next four years, respectively. After that, the cash flows are expected to increase at a constant annual rate of 1.6 percent. What is the current value per share of stock at a discount rate of 15.4 percent?

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