Research Apple by gathering information from its annual report and information gathered by Value Line or other investment research source and find the following information:

a. Estimate the free cash flows available for the firm for the next 3 years then assume the cash flows will grow at an appropriate assumed rate of growth. Explain where you attained these numbers.

b. What is the value of the firm based on the Free cash flow model? What is the value of the firm on a per share basis?