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The following is a four-year forecast for Torino Marine. a. Estimate the fair market value of Torino Marine at the end of 2021 Assume that

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The following is a four-year forecast for Torino Marine. a. Estimate the fair market value of Torino Marine at the end of 2021 Assume that after 2025, earnings before interest and tax wil remain constant at $200 million, depreciation will equal capital expenditures in each year, and working capital will not change Torino Marine's weighted-average cost of capital is 13 percent and its tax rate is 20 percent. Note: Do not round intermediote calculotions. Enter your onswer in millions rounded to 1 decimel place. b. Estimate the fair market value per share of Torino Marine's equity at the end of 2021 if the company has 33 malion shares outstanding and the market value of its interest-bearing liabilities on the valuabion date equals $230million Note: Do not round intermediote colculotions. Round your answer to 2 decimol ploces

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