The following actual (2020) and projected data (2021 2024) is available to you to compute the intrinsic value of PF Energy stock. 2020 (actual) IP/E capital spend/share long term debt (000s) shares (000s) learnings per share working capital (000s) depreciation (000s) weighted aver cost of capital PV factor for FCFF tax rate interest rate on debt 16.00 7.00 20000 2000 5.50 4000 15000 1.000 10.00 25% 3.5% 2021 (est) 16.00 7.50 21500 2150 6.00 4500 16000 10.25 .9070 2022 17.00 8.00 23000 2300 6.50 4000 16000 10.25 .8227 2023 18.00 8.00 23000 2300 7.00 5500 17000 10.30 .7459 2024 30 pts 18.00 8.50 24000 2450 7.00 5500 16000 10.50 .6750

The terminal value of PF stock is $ The present value of all the FCFF is $ terminal value Dote, this includes the FCFF for all estimated years + he equity value of the company (net of long term debt) is $ Note, this is shown on a present ue basis. intrinsic value per share of PF Energy is \$