QUESTION $15$

Refer to Narrative $1.$ If the firm uses all the excess cash to pay a dividend today, and uses all of the expected future FCFs to pay dividends, what is the exdividend price per share of the XYZ Corporation?

$$75\mathrm{.}25$ per share

$$28\mathrm{.}52$ per share

$$65\mathrm{.}00$ per share

$$23\mathrm{.}20$ per share

$$34\mathrm{.}36$ per share

QUESTION $16$

Refer to Narrative $1.$ If the firm uses all excess cash to repurchase its shares in the open market, how many shares can the $xYZ$ Corporation repurchase?

$1,245,625$ shares

$1,541,369$ shares

$1,984,127$ shares

$985,360$ shares