Use the following information for problems 9 and 10

Our WACC is 10% and the table below shows the forecasted free cash flows.

Year	1	2	3
Free cash flows	$2,000,000	$4,000,000	Constant growth rate of free cash flows starts at 4%

Part 9

Calculate the horizon value of operations at year 2 (HV₂)

Part 10

The company has $6,500,000 in debt. What will the price of the stock be if the company is planning an IPO by issuing 5,000,000 shares?