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Use the table for the question(s) below. FCF Forecast ($ million) Banco Industries expect sales to grow at a rapid rate over the next three

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Use the table for the question(s) below. FCF Forecast (\$ million) Banco Industries expect sales to grow at a rapid rate over the next three years, but then at a slower pace such that Banco's free cash flows only grow at the industry growth rate of 6% after year 4 . The spreadsheet above shows a simplified pro forma for Banco Industries. If Banco industries has a weighted average cost of capital of 9%,$40 million in cash, $80 million in debt, and 18 million shares outstanding, which of the following is the best estimate of Banco's stock price at t=0 ? $17.60 $35.21 $63.37 $31.68

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