Quantitative Problem 2: Hadley Inc. forecasts the year-end free cash flows (in millions) shown below Year FCF 2 3 -$22.58$38.2 $43.1 $51.255.4 4 5 The weighted average cost of capital is 9%, and the FCFs are expected to continue growing at a 5% rate after Year 5. The firm has $25 million of market-value debt, but it has no preferred stock or any other outstanding claims. There are 21 million shares outstanding. What is the value of the stock price today (Year 0)? Round your answer to the nearest cent. Do not round intermediate calculations. er share? Quantitative Problem 3: Assume today is December 31, 2013. Imagine Works Inc. just paid a dividend of $1.35 per share at the end of 2013. The dividend is expected to grow at 12% per year for 3 years, after which time it is expected to grow at a constant rate of 5% annually. The company's cost of equity (r.) is 10%. Using the dividend growth model (allowing for nonconstant growth), what should be the price of the company's stock today (December 31, 2013)? Round your answer to the nearest cent. Do not round intermediate calculations. per share? Quantitative Problem 4: Nonconstant growth Microtech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Microtech to begin paying dividends, beginning with a dividend of $2.00 coming 3 years from today. The dividend should grow rapidly - at a rate of 28% per year-during Years 4 and 5; but after Year 5, growth should be a constant 8% per year. If the required return on Microtech is 14%, what is the value of the stock today? Round your answer to the nearest cent