Vansel Inc. estimates the FCF of $1,100 and $1,500 for the next 2 years respectively. Vansel expects its FCF to grow at a constant rate of 2 percent per year after that. If investors require a 10% return on Vansel stock which currently has $3,000 in debt and 1,000 shares outstanding, a fair price for Vansel stock today is ____.

Question 4 options:

$13.95

$22.40

$18.05

$15.05