perating current assets $5, 160. 00 perating current liabilities 3, 000. 00 Et operating working capital $2, 160.00 Et plant & Equipment 13, 000. 00 stall net operating capital $15, 160. 00 Et operating profit after taxes 51, 620. 00 IV . in operating capital ree cash flow ( FCF ) Caculate JCI's horizon value for 6 /30/2014 . FCF is expected to grow at a constant rate of 6%6 and JCI'S WACC is 196 . Calculate JCI's value of operations for 6/30 / 2013 and 6/30/2014 . ( Hint : JCI's value of operations on 6 /30 / 2014 is qual to the horizon value . ) aluation 6/30 /2013 6/30 /2014 orizon value alue of operations Intomins VVILGL IS JUIS GUILFILL !KILL !VIGIL SLULA NILLE I LIKE NILLE UIL DIQUICKLY ; VVIIGL IS LIKE NINIELLEN !JILLIVIGIL SIULA MILLE INI What is the projected intrinsic stock price on 7/1/2014 if JCI distributes the cash as dividends ?" What is the projected intrinsic stock price on 7 /1/2014 if JCI distributes the cash athrough stock repurchases ? Ow many shares will remain outstanding after the repurchase ? Distribute as Dividend Distribute as REpurchase 6 /30 /2013 6 /30 /2014 7/1/2014 7/1/2014 Value of operations + Value of nonoperating assets Total intrinsic value of firm - Debt Intrinsic value of equity - Number of shares