Phoenix Corp. faltered in the recent recession but is recovering. Free cash flow has grown rapidly. Forecasts made at the beginning of 2016 are as follows:

Phoenixs recovery will be complete by 2021, and there will be no further growth in free cash flow.

a.) Calculate the PV of free cash flow, assuming a cost of equity of 10%.(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

b. ) Assume that Phoenix has 14 million shares outstanding. What is the price per share?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

c.) What is Phoenixs P/E ratio?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

($ millions)	2017	2018	2019	2020	2021
Net income	1.0	2.8	4.8	5.3	5.6
Investment	1.0	1.8	2.0	2.2	2.2
Free cash flow	0	1.0	2.8	3.1	3.4