You must estimate the intrinsic value of Noe Technologies' stock. The end-of-year free cash flow (FCF1) is expected to be $23.50 million, and it is expected to grow at a constant rate of 7.0% a year thereafter. The company's WACC is 10.0%, it has $125.0 million of long-term debt plus preferred stock outstanding, and there are 15.0 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? Hint: Similar to homework 9-5, first find total firm value (Firm Valueo = FCF1/(WACC- g)), then back out non-common equity items from total firm value to come up with common equity stock value. $44.77 $43.89 $52.67 $33.79 $44.33