You have forecasted Lunar Motivation Corporation (LMC) free cash flow in 2021 to be $50.51 million, $450 million in 2022, 500 million in 2023, and 550 million in 2024. After 2024, free cash flow will grow at a constant rate of 7 percent per year forever. The company has a 14% WACC and 100 million shares of common stock. Please provide an estimate of the items below, including the stock price, using the free cash flow model. Value of Operations $0.00 WACC = 14.00% g (long term )= 7.00% 2025 2021 $50.51 2022 $450.00 2023 $500.00 2024 $550.00 Years FCF Hoorizon Value Total VOP 2020 = Total Corporate Value Value of Equity Estimated Stock Price Lunar Motivation Corporation Income Statement ($ in millions) Sales Cost of Goods SGA Interest EBT Taxes (33.3%) Net income Dividends Retained earnings 2020 8000 -5600 -1500 -100 800 -320 480 -100 380 Lunar Motivation Corporation Balance Sheet Cash Accounts receivables Inventory Excess Cash Current assets Net plant & equip. Total assets 2020 10 400 560 30 1000 3000 4000 Accounts payable Notes payable Current liabilities Long-term debt Common stock Retained earnings Total liab. & equity 2020 300 300 600 1000 400 2000 4000 ===== =====