you are a financial analyst at rbc$.$ using the data above, you want to determine the value of first american bank$$s stock using the free cash flow to equity $($fcfe$)$ model. you believe that the company$$s fcfe will grow at $40\%$ for three years and $12\%$ thereafter. capital expenditures, depreciation, working capital, and net debt are all expected to increase proportionately with fcfe. the required rate of return on equity is $15\%.$ a$.$ calculate the amount of fcfe per share for the year $2018.$$$0\mathrm{.}40($sample answer: $$5\mathrm{.}15)$

b$.$ calculate projected $2021$ terminal value per share based on constant growth of $12\%$ Income Statement $20172018$

Revenue $$516$ $$630$

Depreciation $3035$

Other operating costs $400480$

Income before taxes $86115$

Taxes $3040$

Net income $5675$

Dividends $2026$

Earnings per share $0\mathrm{.}560\mathrm{.}75$

Dividend per share $0\mathrm{.}20\mathrm{.}26$

Common shares outstanding $($millions$)100100$

Balance Sheet $20172018$

Current assets $$350$ $$420$

Net property, plant, and equipment $500520$

Total assets $$850$ $$940$

Current liabilities $130150$

Long$-$term debt $5080$

Total liabilities $$180$ $$230$

Shareholders$$ equity $$670$ $$710$

Total liabilities and equity $$850$ $$940$

Capital expenditures $4550$

NWC $$220$ $$270$ blank $2$