This book is intermediate financial management by Brigham and Daves by 12th. this problem is ch 8 and P.342(prblem 22)

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Selected data for the Derby Corporation are shown below. Use the data to answer the following questions INPUTS (In millions) Year Current Projected 3 $80.0 4 $84.0 $20.0 $20.0 ree cash flow Marketable Securities Notes payable Long-term bonds Preferred stock WACC Number of shares of stock $40 $100 $300 $50 9.00% 40 a. Calculate the estimated horizon value (i.e., the value of operations at the end of the forecast period immediately after the Year-4 free cash flow) Current Projected 3 $20.0 $20.0 $80.0 $84.0 ree cash flow Long-term constant growth in FCF Horizon value