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Portage Bay Enterprises has $3 milion in excess canh, no debt, and is expectod to have free cash flow of $15 milion next year, IIs

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Portage Bay Enterprises has $3 milion in excess canh, no debt, and is expectod to have free cash flow of $15 milion next year, IIs FCF is then expected to grow at a rase of 2 th per year forever, if Portage Bay/s equty cost dt capital is 9% and it has 6milion sharet oolstanding, What should be the prioe of Portage Bsy stock? The grice of Portage Bay's mock ts? per thare. (Round to the nearent cent)

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