Post Cereals ($ millions) Assumptions Projection Assumptions: Terminal Growth Rate 2.0% Discount rate (WACC) CALCULATE Net nonoperating obligations (NNO) 4,921.9 Noncontrolling interest & PFd Stock 318.3 Shares outstanding 58.7 (millions) Forecast Horizon Period Post Cereals ($ millions) 2022 2023 2024 2025 2026 Terminal Reported Estimated Estimated Estimated Estimated Period Sales rounded $5,851.2 6,056.0 6,268.0 6,487.3 6,714.4 6,949.4 Growth 2.0% 2.0% 2.0% 2.0% 2.0% NOPAT 311.7 322.6 333.9 345.6 357.7 370.2 NOA 8,494.2 8,791.5 9,099.2 9,417.7 9,747.3 10,088.4 Required: a. Apply the discounted cash flow model to obtain Post Cereal's stock price estimate as of fiscal year ended 9/30/2022 Symbol is POST NYSE b. Compare the stock price in part a to the actual price on September 30, 2022. What does the valuation estimate imply about the stock's value