Yellow Labs Inc. develops and sells apps for smartphones and tablets. It plans to become public soon. The current owners would like to know the value of each share of common equity so they price their shares correctly for potential investors. The WACC for this firm is 11.35% and there are 61,850 common shares outstanding. The firm does not have any preferred equity, however, it has outstanding debt with a market value of $2.931,320. Use the DCF valuation model based on the expected FCFs shown below; year 1 represents one year from today and so on. The company expects to grow at a 2.4% rate after Year 5. Rounding to the nearest penny, what would be the intrinsic value of each share of common stock? Period Free Cash Flow Year 1 $791,693 Year 2 Year 3 $1,271,519 $1,327,671 $2,006,243 $2,484,056 Year 4 Year 5