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The following is an estimate of free cash flow for company Zeta over the next 3 years: 3 1 2 Free Cash Flow -10 11

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The following is an estimate of free cash flow for company Zeta over the next 3 years: 3 1 2 Free Cash Flow -10 11 30 After year 3, FCF is expected to grow at a 4% constant rate forever. Dozier's WACC is 11.0 % Also, assume the company has $20 million in marketable securities, $80 million in outstanding debt and $5 million shares of stock outstanding. a. What is the horizon value (as of time 3)? b. What is the current value of Dozier's operations? c. What is the intrinsic price per share

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