You are calculating FCFF for a firm with the following financial data.

This firm has encountered some temporary issues with a supplier you assume will not happen again.

Additional info: average ROE$=11\%,$ average ROC$=10\%,$ BV Capital$=$$$300$mill $,$ BV Equity$=$ $$200$mill.

Year $20192020202120222023$

Earnings Per Share $0\mathrm{.}11\mathrm{.}81\mathrm{.}9-0\mathrm{.}52\mathrm{.}1$

EBIT$(1-$t$)$$$10,000,000$$$22,000,000$$$25,000,000$$$-1,000,000$$$28,000,000$

Net Income $$$$500,000$$$10,000,000$$$10,500,000$$$-5,000,000$$$16,500,000$

What is the$$arithmetic growth$$for the correct metric?

$14$: what is the geometric average growth for the same metric?

$15$: you discover a change in capital structure. What is the new arithmetic growth for the correct metric?