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You must estimate the intrinsic value of Noe Technologies stock. The end - of - year free cash flow ( FCF 1 ) is expected

You must estimate the intrinsic value of Noe Technologies stock. The end-of-year free cash flow (FCF1) is expected to be $52.60 million, and it is expected to grow at a constant rate of 4.2% a year thereafter. The companys WACC is 12.0%, it has $430 million of long-term debt plus preferred stock outstanding, and there are 40 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? Watch your rounding.

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