Suppose you have the following information about a company. Calculate the stock price for 2020 using the FCF approach.

Finally, you don't need Balance Sheet items like short-term investments or Preferred Stock. You can assume these are all $0.
Inputs
FCF Model
2019 Sales	$800,000
2020 Sales	$840,000
OP Ratio	5%	OP Ratio = Operating Profit Ratio = NOPAT / Sales
CR Ratio	60%	CR Ratio = Capital Requirements Ratio = Operating Capital / Sales
FCF Growth (g)	1%	Beginning in 2021.
Debt	$100,000
WACC	12%
# of Shares of stock	1000
Answers
a.	$47.10
b.	$57.35
c.	$65.27