1. Suppose you invest in a company that has free cash flows of $200,000 per year for the next four. Thereafter, FCFs will grow at a constant rate of 6% each year. The firm has a weighted average cost of capital at 12%. This company has $400,000 in debt, and the market value of its preferred stock is $200,000. There are 180,000 shares of common stock outstanding. How much should the stock sell for today?