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Shady Sunglasses operates retail sunglass kiosks in shopping malls. Below is information related to the company: (dollar amounts in thousands) 2014 2015 2016 2017 2018

Shady Sunglasses operates retail sunglass kiosks in shopping malls. Below is information related to the company: (dollar amounts in thousands) 2014 2015 2016 2017 2018 2019 Net Cash Flow from Operations 564 628 854 1059 1345 1655 Interest Expense after tax 122 134 148 145 155 148 Decrease (Increase) in Cash Required for Operations -75 -54 -48 -32 -61 -48 Net Cash Flow from Investing -287 -300 -310 -285 -294 -277 Net Cash from Debt Financing 210 204 140 85 -40 -46 Present Value Factors (Re = 8.5%) 0.922 0.849 0.783 0.722 0.665 Common Shares Outstanding in thousands 1,512 Required: 1. Using the above information and assuming that steady-state growth of FCFE in year 2019 and beyond will be 4%, calculate Shady Sunglasses

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