Quantitative Problem 1: Assume today is December 31, 2019. Barrington Industries expects that its 2020 aftes-tax operating income [EBIT(1 - T)] will be $430 million and its 2020 depreclation expense will be $60 million. Barrington's 2020 gross capital expenditures tre expected to be $110 mitlon and the change in its net operating working capital for 2020 will be $30 million. The firm's free cash fiow is expected to 9row at a constant rate of 5.5% annually. Assume that its free cash flow occurs at the end of each year. The firm's weighted average cost of capital is 8.3%; the market value of the company's debt is $3 billion; and the company has 180 million shares of common stock outstanding. The firm has no preferred stock on its balance sheet and the no ptant to use it for future capitat budgeting projects. Also, tho firm has zero non-operating assets, Using the corporate valuation model, what should be the company's stock price today (December 31,2019 )? Do not round intermediate calculations, Round your answer to the nearest cent. 5 per share Que ntitative Droblem 2; Hadiey Inc. forecasts the year-end free cash flows (in mililions) shown below. The weighted average cost of capital is 12%, and the FCFs are expected to continue growing at a 4% rate after Year 5 . The firm has $25 milition of market-value debs, but it has no preferred stock or any other outstanding claims. There are 20 million shares outstanding, Also, the firm has zero nonpent thare According to the valuation modeis developed in this chapter, the value that an investor assigns to a share of stock is dependent on the length of time the investor plans to hold the stock