Phoenix Corp. faltered in the recent recession but is recovering. Free cash flow has grown rapidly. Forecasts made in 2019 are as follows: Phoenix's recovery will be complete by 2024 , and there will be no further growth in net income or 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 i millions rounded to 2 decimal places.) b. Assume that Phoenix has 12 million shares outstanding. What is the price per share? (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. Confirm that the expected rate of return on Phoenix stock is exactly 10\% in each of the years from 2020 to 2024 . (Hint: First, calculate the PV of all future cash flows starting in each year. Round your answer to 2 decimal places.)