You must estimate the intrinsic value of Noe Technologies' stock. The end-of-year free cash flow (FCF1) is expected to be $22.00 million, and it is expected to grow at a constant rate of 7.0\% a year thereafter. The company's WACC is 13.0\%, 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. $17.26 b. $26.19 c. $20.67 d. $19.10 e. $35.12