RBG, Inc. FCFs over the next 3 years are projected to be FCF1 = $3 million, FCF2 = $5 million, FCF3 = $8 million and free cash flows are projected to grow at 4% per year thereafter. RBG, Inc. also has the following information: Market value of RBG Debt = $150 million Short-term investments = $75 million Book value of equity = $160 million Total Assets = $180 million Shares outstanding = 2.5 million Required return on stock = 11% WACC = 9% Calculate RBG's intrinsic equity value per share.