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Panda Industries Inc. has a WACC of 6 . 2 % and 9 0 , 7 4 4 common shares outstanding. The firm has outstanding

Panda Industries Inc. has a WACC of 6.2% and 90,744 common shares outstanding. The firm has outstanding debt with a market value of $3,846,663 and does not have any preferred equity. Use the DCF valuation model based on the expected FCFs shown below; year 1 represents one year from today and so on. The company expects to grow at a 2.4% rate after Year 5. Rounding to the nearest penny, what is the value of each share of common stock?
Period Free Cash Flow
Year 1 $996,649
Year 2 $1,430,414
Year 3 $2,213,249
Year 4 $2,071,937
Year 5 $2,792,222

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