Question 1: Use the below pro-forma data to compute the stock price of ABC. 2018 1500 758 526 1,000 EBIT Op CA Op CL Net fixed asset 2019 2000 867 638 1,200 2020e 2256 978 738 1,674 2021e 2451 1,012 832 1,893 2022e 2783 1,256 2023e 3100 1,563 1,236 2,345 937 2,100 Additional data Cost of capital = 8% Marketable securities = $1,500 Market value of debt = $20,000 Market value of preferred stock = $10,000 Number of shares outstanding = 1,000 Growth rate after year 2023 = 4% Tax rate 35%