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Portage Bay Enterprises has no debt, $0.8 million in cash, and is expected to have free cash flow of $10 million next year. It is
Portage Bay Enterprises has no debt, $0.8 million in cash, and is expected to have free cash flow of $10 million next year. It is then expected to grow at a rate of 6% per year forever. If Portage Bay's equity cost of capital is 9% and it has 6 million shares outstanding, what should the price of Portage Bay's stock be
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
