You are building a free cash flow to the firm model. You expect sales to grow from $$1\mathrm{.}2$ billion for the year that just ended to $$1\mathrm{.}44$ billion five years from now. Assume that the

company will not become any more or less efficient in the future. Assume that the company will grow at a constant rate for $5$ years, and then at a constant rate of $3\mathrm{.}213729\%$

for year $6$ and onward after that. Use the following information to calculate the value of the equity on a per$-$share basis.

a$.$ Assume that the company currently has $$432$ million of net PP&E$.$

b$.$ The company currently has $$144$ million of net working capital.

c$.$ The company has operating margins of $11$ percent and has an effective tax rate of $29$ percent.

d$.$ The company has a weighted average cost of capital of $10$ percent. This is based on a capital structure of two$-$thirds equity and one$-$third debt.

e$.$ The firm has $1$ million shares outstanding.

Do not round intermediate calculations. Round your answer to the nearest cent.

Equity Value per Share $=$$$777\mathrm{.}48$ million $\frac{?}{1}$ million shares $=$$$777\mathrm{.}48$

Note: While the calculations above show values rounded to $2$ decimal places, unrounded values