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 an 18 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 6 per year indefinitely RT has a 10 weighted average cost of capital The most recent annual free cash flow (FCF 0 ) was $3 10 million 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 FCF 1 $ million FCF 2 $ million FCF 3 $ million FCF 4 $ million FCF 5 $ million What is the horizon value at t 5 (HV 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 $ million What is the present value of the horizon value (HV 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 $ million 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 $ million 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 $ million

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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

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 an 18% 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 6% per year indefinitely. RT has a 10% weighted average cost of capital. The most recent annual free cash flow (FCF₀) was $3.10 million.

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.

FCF₁ = $ million

FCF₂ = $ million

FCF₃ = $ million

FCF₄ = $ million

FCF₅ = $ million
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
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
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.

$ million
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.

$ million