Watkins Corporation has never paid a dividend, and when the firm might begin payjing dividends is not known. Its current free cash flow is $100,000, and this FCF is expected to grow at a constant 7% rate. The weighted average cost of capital is WACC-11%. Watkins currently holds $325,000 of nonoperating marketable securities. Its long-term debt is $1,000,000, but it has never issued preferred stock. Watkins has 50,000 shares of stock outstanding. a. Calculate Watkins's value of operations. b. Calculate the company's total value. c. Calculate the estimated value of common equity. d. Calculate the estimated per share stock price