^{Use the free cash flow to the firm (FCFF) valuation model to estimate the value of the shares of McDonalds Corporation (MCD). (Please show your work.) Relevant information includes the following. All currency amounts are for the current year (just ended) and are in $millions. Net income is 4,687 Depreciation and amortization expense is 1,517 Interest expense is 870 Investment in working capital is 167 Investment in property, plant, and equipment is 1,821 Dividends paid is 3,058, Share repurchases is 11,171, and Net borrowing is 2,670 Long-term debt outstanding is 27.21 billion Target debt/capital ratio is 20% Stock beta is 0.87, risk-free rate is 2.0%, and equity risk premium is 4.5% Yield to maturity on long-term debt is 4.1% Income tax rate is 30% Growth rate of FCF is 3% per year (perpetual) Outstanding shares is 815 million}

^{Estimate the current share value for MCD.}