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Year 0 1 2 3 4 FCF ($ million) -15 12 12 12 12 The cash flow for the firm's project is listed in the
Year 0 1 2 3 4 FCF ($ million) -15 12 12 12 12 The cash flow for the firm's project is listed in the table above. After year 4, the FCF is expected to grow at a constant rate of 1.5%. The firm's discount rate is 5%. If cash is $2 million, the market value of the firm's debt is $7 million, and the number of shares outstanding is 2 million, estimate the share price using the Discounted free cash flow model
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