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QUESTION 14 2. Year 1 2 3 4 Free Cash Flow $24 million $36 million $44 million $48 million Conundrum Mining is expected to generate

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QUESTION 14 2. Year 1 2 3 4 Free Cash Flow $24 million $36 million $44 million $48 million Conundrum Mining is expected to generate the above free cash flows over the next four years, after which they are expected to grow at a rate of 4% per year. If the weighted average cost of capital is 12% and Conundrum has cash of $80 million, debt of $60 million, and 30 million shares outstanding, what is Conundrum's expected current share price? $12.80 O $18.06 O $17.62 O $13.71

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