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Quantitative Problem 1: Assume today is December 31, 2017. Barrington Industries expects that its 2018 after-tax operating income [EBIT(1 - T)] will be $400 million

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Quantitative Problem 1: Assume today is December 31, 2017. Barrington Industries expects that its 2018 after-tax operating income [EBIT(1 - T)] will be $400 million and its 2018 depreciation expense will be $65 million. Barrington's 2018 gross capital expenditures are expected to be 110 million and the change in its net operating working capital for 2017 will be $20 million. The firm's free cash flow is expected to grow at a constant rate of 4.5% annually. use it for future capital budgeting projects. Using the free cash flow valuation model, what should be the company's stock price today 31 (December Do not round intermediate calculations. Round your answer to the nearest cent. $ B per share

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