QRS is a company in a mature industry with a stable financial

outlook and stable capital structure.

The dividend, which is currently $$\frac{2}{?}$ share, is expected to grow at

$2\%$ over the long$-$term. The free cash flow to equity $($FCFE$),$ which

is currently $$\frac{3}{?}$ share, is expected to grow at $2\%$ over the long$-$term.

The free cash flow to the firm $($FCFF$),$ which is currently

$$\frac{3\mathrm{.}5}{?}$ share, is expected to grow at $2\mathrm{.}5\%$ over the long$-$term.

QRS has a WACC of $8\%$ and a required return on equity of $6\%.$

What is the intrinsic value of the stock?

$$25\mathrm{.}50$

$$34\mathrm{.}00$

$$51\mathrm{.}00$

$$65\mathrm{.}23$

$$76\mathrm{.}50$

$$102\mathrm{.}50$