The following below are information of Angel Company's next year cash flows:

Net operating profit (EBIT) P234,000

Interest expense P 20,000

Income tax rate 30%

Increase in working capital P 14,000

Increase in net fixed assets P 10,000

Angel Company's WACC is 12% and currently had P827,500 long-term debt. Assume that Angel Company has a constant growth rate of 4% and has currently common stock outstanding of 150,000 shares, determine the following:

a.Calculate the free cash flows for the next year.

b.Calculate the value of the company using corporate valuation approach.

c.Determine the stock price today.