You must estimate the intrinsic value of Noe Technologies' stock. The end-of-year free cash flow (FCF1) is expected to be $17.50 million, and it is expected to grow at a constant rate of 7.0% a year thereafter. The company's WACC is 12.0%, it has $125.0 million of long-term debt plus preferred stock outstanding, and there are 14.0 million shares of common stock outstanding. Assume the firm has zero non-operating assets. What is the firm's estimated intrinsic value per share of common stock? Do not round intermediate calculations. a. $33.93 b. $17.82 c. $25.00 d. $19.07 e. $16.07