The Lemon Company had free cash flow to equity (FCFE) of $87 for the year ending December 31, 2019. The firm anticipates a growth rate of 8% for the next three years due to the high demanding from their customers. However, the growth rate is expected to decline to 4% after three years and remain at that level indefinitely. The required rate of return is 12% for this firm. Calculate the intrinsic value of the Lemon Company today, and comment the limitations of this valuation technique.