1. Verizons free cash flows to the firm are projected to be as follows for the next 5 years (all figures in billions):

2020	2021	2022	2023	2024
12.36	12.93	13.62	14.36	14.97

Verizon is slated to grow its FCFFs at a long run rate of 1.32% thereafter. The WACC for Verizon is 4.55%. What is the intrinsic value of Verizon?

If Verizon has $105.873B in net debt (debt less non-operating assets), and 4.14B shares outstanding, what does your model predict the current share price of Verizon should be?

If, in order to maintain the long run growth rate, Verizon has to make use of more expensive debt and the WACC rises to 5.55%, how does this change your price estimate?