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Please explain using EXCEL Anya Manufacturing has projected sales of $118 million next year. Costs are expected to be $69.2 million, and net investment is

Please explain using EXCEL

Anya Manufacturing has projected sales of $118 million next year. Costs are expected to be $69.2 million, and net investment is expected to be $13.1 million. Each of these values is expected to grow at 10 percent the following year, with the growth rate declining by 1 percent per year until the growth rate reaches 6 percent, where it is expected to remain indefinitely. There are 5.3 million shares of stock outstanding and investors require a return of 10 percent on the companys stock. The corporate tax rate is 21 percent.
a. What is your estimate of the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. Suppose instead that you estimate the terminal value of the company using a PE multiple. The industry PE multiple is 17. What is your new estimate of the companys stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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