Nonconstant FCF Growth Valuation Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 14% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and RT's growth rate will slow to 8% per year indefinitely. RT has a 13% weighted average cost of capital. The most recent annual free cash flow (FCF0) was $2.30 million. a. Calculate RT's expected FCFs for t=1,t=2,t=3,t=4, and t=5. Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to three decimal places. \begin{tabular}{ll} FCF1=$ & million \\ FCF2=$ & million \\ FCF3=$ & million \\ FCF4=$ & million \\ FCF5=$ & million \end{tabular} b. What is the horizon value at t=5 (HV5)? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $ million c. What is the present value of the horizon value (HV5) ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $million d. What is the present value of the free cash flows expected at t=1,t=2,t=3,t=4, and t=5 ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $Qmillion e. What is the value of operations at t=0 ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to two decimal places. Nonconstant FCF Growth Valuation Reizenstein Technologies (RT) has just developed a solar panel capable of generating 200% more electricity than any solar panel currently on the market. As a result, RT is expected to experience a 14% annual growth rate for the next 5 years. By the end of 5 years, other firms will have developed comparable technology, and RT's growth rate will slow to 8% per year indefinitely. RT has a 13% weighted average cost of capital. The most recent annual free cash flow (FCF0) was $2.30 million. a. Calculate RT's expected FCFs for t=1,t=2,t=3,t=4, and t=5. Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to three decimal places. \begin{tabular}{ll} FCF1=$ & million \\ FCF2=$ & million \\ FCF3=$ & million \\ FCF4=$ & million \\ FCF5=$ & million \end{tabular} b. What is the horizon value at t=5 (HV5)? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $ million c. What is the present value of the horizon value (HV5) ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $million d. What is the present value of the free cash flows expected at t=1,t=2,t=3,t=4, and t=5 ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1 , not 1,000,000. Round your answers to two decimal places. $Qmillion e. What is the value of operations at t=0 ? Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1 million should be entered as 1, not 1,000,000. Round your answers to two decimal places