The company's sales revenue last year was 16 million euros. The operating profitability of the company's turnover is 25%. Depreciation was 750,000 euros last year and the volume of investments has been stable at 20% of operating profit. The company's investment in net working capital was 800,000 euros last year and it changes in proportion to sales revenue. Find the company's free cash flow for the previous year (FCFF) based on the above data.

We now assume that the free cash flow will increase by 10% per year over the next four years, but from the fifth year onwards, the growth rate will decrease to only 2%. When finding the price of a company's capital, it can be assumed that the risk-free interest rate is 3%, the company's beta is 1.25 and the market rate of return is 12%. The weighted average effective interest rate on corporate loans is 6%. The share of the company's debt capital in the total value of the company is planned to be stable at 30%. The company has several non-core financial investments with a current market value of 5 million euros. The company has issued a total of 250,000 shares

Questions:

a) Find the company's free cash flow (FCFF) for the previous year and free cash flow projections according to the forecasts.

b) Find the price of the company's capital

c) Find the value of the company

d) Calculate the equity value and the share price.