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Year Free Cash Flow 1-$22 million2- $25 million 3-$30 million 4-$31 million $5-35 million XYZ Industries is expected to generate the above free cash flows
Year Free Cash Flow 1-$22 million2- $25 million 3-$30 million 4-$31 million $5-35 million
XYZ Industries is expected to generate the above free cash flows over the next five years, after which free cash flows are expected to grow at a rate of 3% per year. If the weighted average cost of capital is 8% and XYZ has cash of $13 million, debt of $41 million, and 60 million shares outstanding,
what is General Industries' expected current share price?
Round your answer to the nearest one-hundredth of a million.
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