Pegasus Corporation has 10 million shares outstanding. It has a single bond outstanding with a market value of $150 million, and holds no cash. The WACC is estimated at 10%. The year 5 cash flow will be 3% higher than the year 4 cash flow. This 3% cash flow growth rate will carry on into perpetuity. The cash flows for earlier years are as given below, with all numbers stated in millions. Estimate the share price for Pegasus.

Time Cash Flow

0 -100

1 25

2 25

3 25

4 25