You must estimate the value of Kendra Enterprises' entire share. The free cash flow (FCF) at the end of the year is expected to be R25 000 000 and it is expected to grow at a constant rate of 8,50% a year thereafter. The company's weighted average cost of capital (WACC) is 11%. The company has a R200 000 000 of long-term debt plus preferred shares, and there are 30 000 000 shares of ordinary shares are outstanding. What is company's estimated value per share of ordinary shares? 1. R22,67 2. R24,00 3. R25,33 4. R26,67