PLEASE SHOW ALL CALCULATIONS. THANK YOU !

Sora Industries currently has 60 million outstanding shares, $120 million in debt and $40 million in excess cash. Sales in the recently concluded financial year were $433. They are projected to grow at 8.6%, and from the second year onwards, at 5% per year. Furthermore, you are given that in the last financial year, Soras

i) cost of goods sold was 70% of sales,

ii) selling, general and administrative expenses were 20% of sales,

iii) depreciation was 1.5% of sales,

iv) gross fixed assets were 22.5% of sales, and

v) NWC was 18% of sales.

Assuming these ratios remain constant forever, except COGS will be 68% of sales in each year moving forward. If the tax rate for the firm is 40%, and the WACC is 10%:

What is the stock price of Sora industries using FCF model?

..) Sora Industries currently has 60 milion outstanding shares, $120 m Mon in debt and 540 milion in excess cash. Sales in the recently conduced financial year was 5433 million. They are projected to grow at 8.6% next year, and from the second year onwards at 5 per year. Furthermore, you are gver that in the last financial year. Sora's L Cost of goods sold was 70% of sales Selling general and administrative expenses were 20of sales, Depreciation was 15 of sales Net fixed assets were 22.5 of sales V. NOWC was 18% of sales Assume these ratios remain constant forever, except that COGS will be 68% of sales in each year moving forward. If the tax rate for the firm is and the WACC is 10% What is the stock price of Sora Industries using the FCE model