Questions 1417 are based on the following information No Growth Incorporated had operating income before interest and taxes in 2022 of $270 million. The firm was expected to generate this level of operating income indefinitely. The firm had depreciation expense of \$10 million that same year. The change in net working capital and capital spending are $10 million and \$20 million respectively during 2022. The firm's combined marginal state, local, and federal tax rate was 40% and its debt outstanding had a market value of $1.2 billion. No Groivth's WACC is 10%. The firm had 2,500,000 common shares outstanding at the end of 2022 . 14 What is the free cash flow to the firm in 2022? a 270 million b 162 million c 142 million d 132 million e 88 million 15 Which of the following formula is the one to compute the firm value in millions? a FCF/10% 16 Which of the following formula the one to compute the total equity value of the firm in millions? a FCF/10% b FCF /10%+1200 c. FCF 10%1200 d (FCF/10%)/2,500,000 17 If the free cash flow is expected to grow at a constant 2% per year instead of being flat while everything else remains the same, the firm valuation will a increase b decrease c increase sometimes and decrease sometimes