The following below are information of Angel Companys next year cash flows:

Net operating profit (EBIT) P 234,000

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 Companys 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.