THIS IS MY ONLY TRIAL

Sora Industries has 66 million outstanding shares, $ 127 million in debt, $42 million in cash, and the following projected free cash flow for the next four years: Year 3 4 Earnings and FCF Forecast ($ million) 1 Sales 433.0 468.0 516.0 547.0 574.3 2 Growth vs. Prior Year 8.1% 10.3% 6.0% 5.0% (313.6) (345.7) (366.5) (384.8) 3 Cost of Goods Sold 4 Gross Profit 154.4 170.3 180.5 189.5 5 Selling, General, & Admin. 6 Depreciation 7 EBIT (93.6) (103.2)(109.4) (114.9) (7.0) (7.5) (9.0) (9.5) 53.8 59.6 62.1 65.2 8 Less: Income Tax at 40% (21.5) (23.8) (24.8) (26.1) 9.0 9 Plus: Depreciation 10 Less: Capital Expenditures 7.0 9.5 7.5 (7.7) (10.0) (9.9) (10.4) (6.3) (8.6) (5.6) (4.9) 11 Less: Increase in NWC 12 Free Cash Flow 25.3 24.6 30.8 33.3 a. Suppose Sora's revenue and free cash flow are expected to grow at a 4.5% rate beyond year four. If Sora's weighted average cost of capital is 13.0%, what is the value of Sora stock based on this information