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Quantitative Problem 2: Hadley Inc. forecasts the year-end free cash flows (in millions) shown below. The weighted average cost of capital is 12%, and the

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Quantitative Problem 2: Hadley Inc. forecasts the year-end free cash flows (in millions) shown below. The weighted average cost of capital is 12%, and the FCFs are expected to continue growing at a 5% rate after Year 5 . The firm has $24 million of market-value debt, but it has no preferred stock or any other outstanding claims. There are 21 million shares outstanding. Also, the firm has zero non-operating assets. What is the value of the stock price today (Year 0)? Round your answer to the nearest cent. Do not round intermediate calculations. \$ According to the valuation models 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

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