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The fiscal year 2 0 2 2 of Consolidated Edison ended recently. During the 2 0 2 2 fiscal year, the firm produced a free

The fiscal year 2022 of Consolidated Edison ended recently. During the 2022 fiscal year, the firm produced a free cash flow of $1.35 billion. Investors are expecting the free cash flow to grow by a constant 3.5% per year in the future. Given the low risk of the firms business, its weighted average cost of capital is only 6%. The firm has 355 million shares outstanding and $24 billion in debt.
With these assumptions, what is the stock price of Consolidated Edison?

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