Progressive Studios Corporations sales in Year 2019 is 800 million dollars. Lets make the following assumptions on the firms performance to forecast its free cash flow in Year 2020:

Sales grow 25% from Year 2019 to Year 2020.

Corporate tax rate is 25%.

COGS is 40% of the sales in Year 2020.

SG&A is 20% of the sales in Year 2020.

Depreciation is 10% of the sales in Year 2020.

Net working capital amounts to 30% of the sales for each year (i.e., NWC for 2019 is 30% sales in 2019, NWC for 2020 is prediced to be 30% sales in 2020).

Capital expenditure is 5% of the sales in Year 2020.

a. What is the forcasted EBIT of Progressive Studios Corporation in Year 2020? Progressive Studios Corporations forecasted EBIT in Year 2020 is $___.(Round to the nearest dollar.)

b. What is Progressive Studios Corporations forecasted free cash flow in Year 2020? Progressive Studios Corporations forecasted free cash flow in Year 2020 is $___.(Round to the nearest dollar.)

c. Assume that starting from Year 2021 and beyond, Progressive Studios' free cash flow will grow 2% per year. The weighted average cost of capital is 12%. The corporation has debt outstanding of $100 million and cash of $50 million in Year 2019. The number of shares outstanding is 100 million shares. What is the price of Progressive Studios stock will be consistent with the forecast? The price per share of $___ will be consistent with the forecast