You are going to value a firm using the FCF model. After consulting various sources, you find that the firm has a reported equity beta of 1.4, a debt-to-equity ratio of .3, and a tax rate of 30 percent. The firm had EBIT last year of $40 million, which is net of a depreciation expense of $4 million. In addition, the firm made $5 million capital expenditures and increased net working capital by $3 million. The firms FCF is expected to grow at a rate of 3 percent into perpetuity. The firm has a market value of debt of $120 million and 4 million shares of stock outstanding. Assume a risk-free rate is 4 percent and a market risk premium is 7 percent.

(a) What is the firm's asset beta? Note: Equity= Asset[1 + {(D/E)(1-t)}]

(b) What is the firm's required return?

(c) What is the firm's free cash flow for the year?

(d) What is the firm's total firm value?

(e) What is the firm's equity value?

(f) What is the current price of the firm's common stock?