Parminder Partners is expected to generate free cash flows of $4 million per year for the next
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Question:
Parminder Partners is expected to generate free cash flows of $4 million per year for the next 5 years, after which they are expected to grow at a rate of 3% per year. The firm currently has $2 million of cash, $7 million of debt, and a cost of capital of 8%. If the firm has 10 million shares outstanding, what is Parminder's expected current share price?
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