Q1. Suppose Mature No Dividends Corporation's free cash flow during the just-ended (t = 0) year was $175 million, and FCF is expected to grow at a constant rate of 6% in the future.If the weighted average cost of capital is 17%, what is the firm's value of operations, in millions?

Q2. Diversified Industries, Inc. forecasts that its free cash flow in the coming year, i.e., at t = 1, will be -$18 million (negative), but its FCF at t = 2 will be $35 million.After Year 2, FCF is expected to grow at a constant rate of 4% forever.If the weighted average cost of capital is 14%, what is the firm's value of operations, in millions?